AllUnity launches MiCA-regulated US dollar stablecoin USDAU

AllUnity is launching USDAU, a MiCA-regulated stablecoin pegged to the US dollar. AllUnity said USDAU will maintain a 1:1 peg through segregated reserves. AllUnity announced the token on Wednesday. USDAU will debut on Ethereum, Solana, Base, Tempo, Arc and Polygon. AllUnity already issues euro-backed EURAU, Swiss franc-backed CHFAU and Swedish krona-backed SEKAU. CoinGecko puts EURAU's market capitalization at roughly $400,000. CoinGecko puts CHFAU's market capitalization at about $45 million. CoinGecko says US dollar-pegged tokens account for more than 99% of the roughly $291 billion global stablecoin market by capitalization. European policymakers are debating the implications of dollar stablecoin dominance. The European Central Bank warned in June that greater use of dollar stablecoins in European tokenized finance could deepen dependence on the dollar and weaken the euro's role. AllUnity did not respond by publication to a request for comment on European issuers' role in the US dollar stablecoin market and Europe's reliance on dollar-denominated stablecoins.