European stablecoin issuer AllUnity launches USD stablecoin USDAU

What happened

AllUnity is launching USDAU, its fourth fiat-backed stablecoin (a digital token meant to hold a fixed value, usually one dollar), expanding a MiCA-regulated lineup that already covers the euro, Swiss franc and Swedish krona. AllUnity is launching a new stablecoin pegged to the US dollar, expanding its digital asset lineup as dollar-pegged tokens continue to dominate the global stablecoin market.

Cointelegraph approached AllUnity for comment on the role of European issuers in the US dollar stablecoin market and concerns over Europe’s reliance on dollar-denominated stablecoins, but did not receive a response by the time of publication. AllUnity, regulated under the European Union’s Markets in Crypto-Assets (MiCA), already issues euro-backed EURAU , Swiss franc-backed CHFAU and Swedish krona-backed SEKAU stablecoins.

CoinGecko measures EURAU’s market capitalization at roughly $400,000 and CHFAU’s at about $45 million. The launch comes as European policymakers debate the implications of dollar stablecoin dominance.

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