German electronic money institution AllUnity has introduced CHFAU, a stablecoin pegged to the Swiss franc, on the Ethereum blockchain. The stablecoin is backed 1:1 by Swiss franc reserves and is intended for institutional payments, settlement, and treasury operations. This launch follows AllUnity's previous release of a euro-pegged stablecoin and is regulated by Germany's Federal Financial Supervisory Authority (BaFin). The company plans to expand CHFAU to other networks later this year. AllUnity is a joint venture between DWS, Galaxy, and Flow Traders.