European stablecoin issuer AllUnity launches USD stablecoin USDAU
AllUnity is launching USDAU, its fourth fiat-backed stablecoin, expanding a MiCA-regulated lineup that already covers the euro, Swiss franc and Swedish krona.
AllUnity, a European stablecoin issuer, has introduced a new USD-backed stablecoin called USDAU. This launch marks the fourth fiat-backed stablecoin in AllUnity's MiCA-regulated lineup, which already includes stablecoins pegged to the euro, Swiss franc, and Swedish krona. The USD-pegged token joins Ethereum, Solana, Base, Tempo, Arc, and Polygon networks.
US dollar-pegged tokens make up over 99% of the total stablecoin market value, which amounts to roughly $291 billion, according to CoinGecko data. The European Central Bank has raised concerns about the potential for European tokenized finance to become overly reliant on the dollar and diminish the euro's importance.
AllUnity CEO Alexander Höptner dismissed the notion that the dollar is the primary issue, stating that USDAU brings dollar liquidity under European supervision, enabling European businesses to utilize dollars for international trade and cross-border transactions.
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