Frankfurt-based stablecoin issuer AllUnity has launched USDAU, a fully reserved US dollar stablecoin available across six blockchain networks, as the BaFin-licensed company extends its regulated digital money infrastructure into dollar settlement and stablecoin-based foreign exchange.
The company said on Sept. 30 that USDAU is fully backed by US dollar reserves and can be redeemed 1:1 at par, with issuance handled through AllUnity’s BaFin-licensed electronic money institution under the European Union’s Markets in Crypto Assets Regulation, better known as MiCA. The token went live on Ethereum, Solana, Base, Tempo, Arc and Polygon at launch, with additional networks expected later this year.
A fourth currency for a regulated issuer
USDAU takes AllUnity beyond the European currencies that have formed its stablecoin business so far. The company already issues a euro-backed token, EURAU, a Swiss franc token, CHFAU, and a Swedish krona token, SEKAU, which was introduced in June as a 1:1 backed MiCA e-money token for institutional settlement, treasury operations and cross-border payments.
The dollar token now gives institutional clients access to four fiat currencies through the same regulated issuer, a combination few licensed operators in Europe can match. CEO Alexander Höptner described the launch as an expansion into a currency that dominates international commerce.
“Adding USDAU is a major expansion of what AllUnity is building,” Höptner said. “We are extending our platform into a globally significant trade and settlement currency and laying the foundation for a truly multi-currency digital money network.”
The move matters because US dollar tokens account for most of the circulating stablecoin supply worldwide. By bringing the same fully reserved, MiCA-compliant issuance model to a dollar asset, AllUnity positions itself to serve European institutions that need dollar liquidity without leaving a regulated framework.
Business Mint Account adds stablecoin-based FX
Alongside USDAU, AllUnity expanded its Business Mint Account with a service called Instant FX, which lets institutional users move between supported currencies using its stablecoins. Eligible clients that complete the onboarding process can mint and redeem USDAU without fees, and can convert value between currencies inside a single business account instead of maintaining separate payment infrastructure for each currency corridor.
CFO Simon Seiter said the company is applying the round-the-clock settlement model proven by stablecoins to the foreign exchange market.
“Stablecoins have already demonstrated that value can move 24/7 with near-instant settlement,” Seiter said. “We are now bringing that principle to FX and making it operationally simpler: one business account, multiple currencies and the ability to convert, move and redeem value within a single platform.”
The timing reflects a real gap in the market. TransFi CEO Raj Kamal noted earlier in September that more than 70% of conversions into dollar stablecoins begin in another currency, and that round-the-clock stablecoin activity can leave businesses dealing with thinner FX liquidity outside normal trading hours. Gravity Team CEO Mārtiņš Beņķītis separately warned in August that converting stablecoins into local fiat still depends on banking access, liquidity and payout infrastructure. AllUnity’s answer is to place the conversion step inside the same account used to mint and redeem.
A deep institutional support stack
Several financial and digital asset companies are supporting USDAU at launch. Banking Circle, the Luxembourg-licensed bank that rolled out institutional fiat-to-stablecoin settlement services earlier this year, will handle reserve and transaction banking for the dollar reserves backing the token. Flowdesk has been appointed designated liquidity provider for market operations.
Archax will serve as a direct minting and redemption partner, while Hercle will handle off-ramp and FX services, including conversions between the stablecoin and fiat currencies. Bitcoin Suisse, RULEMATCH, BitGo and Galaxy are among the other firms supporting the launch.
The BitGo connection is particularly notable. Under an agreement announced in August, BitGo Europe became a first buyer and institutional liquidity partner for EURAU, CHFAU and SEKAU, giving eligible custody clients direct mint and redemption access through the Business Mint Account. USDAU now joins that same distribution channel, connecting AllUnity’s issuance infrastructure with institutional custody, trading and over-the-counter services.
What it means for the stablecoin market
The launch underscores how quickly the European stablecoin landscape is shifting from a dollar-unicorn duopoly toward a multi-issuer, multi-currency model built inside regulated rails. AllUnity, a joint venture rooted in Germany’s banking establishment, is betting that institutions want stablecoins that behave like regulated electronic money rather than offshore instruments.
For corporate treasurers, the pitch is straightforward: one account, four fiat currencies, 24/7 movement, par redemption and no minting or redemption fees for onboarded institutional clients. Whether Instant FX can compete on pricing and liquidity with traditional FX venues remains to be seen, but the product removes at least one layer of operational friction from multi-currency settlement.
Market context at publication time: Bitcoin traded near 83,942 USD, Ether near 2,698.58 USD and Solana near 119.61 USD on Binance at 12:00 UTC, according to the exchange’s spot price data.
USDAU is available from Sept. 30 through the Business Mint Account, supported exchanges and ecosystem partners, with more blockchain networks planned before the end of the year.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
six chains at launch and none of them are a ghost l2 with 4 users. whoever picked tempo and arc actually looked at where dollars settle
six chains at launch including tempo and arc, someone at allunity actually pays attention to where the flows are. rare for a bafin regulated issuer
been holding eurau since last year and the 1:1 redemption actually works without drama. expecting the same from usdau tbh
watching whether USDAU redemption holds up the first time someone stress tests it on a red day. eurau held fine so benefit of the doubt for now
eurau redemptions cleared inside a day during the august stress. if usdau runs the same reserve stack this is a solved question already
same reserve setup and same bafin license as eurau though. if eurau held through the august drawdowns usdau probably holds too
sekau is only three months old though, one drawdown isnt much of a track record. still long the boring thesis
eurau redemptions cleared inside a day during the august stress. if usdau runs the same reserve stack this question is already answered
four fiat currencies now after sekau landed in june. frankfurt quietly building the boring infrastructure everyone else ignores
boring is exactly what institutions want from a stablecoin lol
boring plus tempo and arc at launch. they picked chains by actual settlement volume, not by whoever paid for a listing
tempo and arc over the usual ghost chain listings is such a frankfurt move. distribute where the flows already are
BaFin licensed issuer, 1:1 redeemable, six chains at launch. USDAU is the boring compliant dollar token banks were waiting for honestly
agree on the boring part. six chains day one including tempo and arc says they actually expect checking account style flows
built in FX between USDAU, EURAU, CHFAU and SEKAU is the sneaky important part. corporate treasury desks will use that swap rail way before retail touches it
treasury desks yes but the real unlock is collateral mobility. usdau on tempo and arc means it can sit next to the positions it backs
collateral mobility point is underrated. usdau sitting on tempo right next to the positions it backs kills an entire settlement hop
the FX rail is the whole product tbh, treasury desks hate stitching together three venues just to swap usd into chf
the usdau/eurau swap rail is basically an on-chain FX desk for dual currency treasury. boring, licensed, useful. rare combo
The FX rail is the product. Swapping USDAU into EURAU inside one licensed issuer removes the counterparty dance treasury desks hate most.
an on-chain fx desk between eurau and usdau kills the two hop usdc dance treasuries run today. genuinely useful plumbing
boring yes but six chains on day one is not timid. tempo and arc alongside eth and sol says they expect actual settlement volume, not a press release listing
four currencies under one bafin license and nobody talks about allunity. the fx swap rail between usdau and eurau alone saves treasury desks real basis points
fourth fiat token under one bafin license. eurau chfau sekau and now usdau. frankfurt quietly built the fx swap rail nobody covers
four fiat tokens under one bafin license is quietly the deepest regulated rail in europe. nobody covers it because its frankfurt not dubai
fourth fiat token under one bafin license and still almost zero coverage. frankfurt keeps shipping while everyone watches USDC print numbers