Germany's AllUnity issues compliant Swiss franc-pegged stablecoin CHFAU

PANews, February 27 - According to a CoinDesk report on February 27, German electronic money institution AllUnity has announced the launch of a Swiss franc-pegged stablecoin CHFAU on the Ethereum blockchain. The token is backed 1:1 by Swiss franc reserves and is intended for use in institutional payments, settlements, and treasury operations. This marks another expansion of AllUnity's product line following the launch of a euro stablecoin last year. CHFAU is regulated by the German Federal Financial Supervisory Authority (BaFin) and is planned to expand to other networks later this year. AllUnity is a joint venture between DWS, Galaxy, and Flow Traders.