PANews reported on February 27th that, according to a CoinDesk report, German electronic money institution AllUnity announced the launch of CHFAU, a stablecoin pegged to the Swiss franc, on the Ethereum blockchain. The token is backed 1:1 by the Swiss franc reserve and is designed for institutional payments, settlements, and treasury operations. This marks another expansion of AllUnity's product line following the launch of its euro-denominated stablecoin last year. CHFAU is regulated by the German Federal Financial Supervisory Authority (BaFin) and is planned to expand to other networks later this year. AllUnity is a joint venture between DWS, Galaxy, and Flow Traders.