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Wu said that European stablecoin issuer AllUnity announced the launch of the Swedish Krona stablecoin SEKAU, calling it the first fully reserved Swedish Krona stablecoin compliant with MiCAR requirements. SEKAU is designed as an electronic money token (EMT), backed 1:1 by Swedish Krona reserves, initially deployed on the Ethereum network, Solana, Base, Tempo, and Polygon. AllUnity stated that Banking Circle will serve as the designated reserve and settlement bank, and SEKAU will initially be open for minting and redemption to institutional clients that have completed onboarding.