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Coinify, Galaxus enable ecommerce payments using Sygnum Bank DCHF stablecoin

Thursday 27 August 2020 10:55 CET | News

Coinify, Sygnum Bank, and Galaxus have announced the world’s first ecommerce transaction using a bank-issued stablecoin, according to the official press release.

The Sygnum Digital Swiss Franc (DCHF), pegged 1:1 with the Swiss Franc, aims to eliminate the need for card systems, reduces costs and fraud, and processes transactions in real-time. So far, the stablecoin has been used for an ecommerce payment transaction with Swiss online retailer, Galaxus, and the transaction was enabled by the digital currency platform provider, Coinify.

Sygnum is a regulated bank that holds as collateral one Swiss Franc in the Swiss National Bank for every DCHF it generates in its client accounts. DCHF also facilitates Sygnum’s tokenisation solution that generates digital versions of assets like company shares and real-estate on the blockchain that can be securely traded, paid for, and delivered instantly.

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Keywords: Coinify, Sygnum Bank, Galaxus, stablecoin, ecommerce, payments, digital currency, blockchain, digital assets
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Switzerland
This article is part of category

Blockchain & Cryptocurrencies