Sygnum Bank launches stablecoin-based time deposit product

Thursday 18 March 2021 14:11 CET | News

Switzerland-based Sygnum Bank has announced the launch of a time deposit product based on the digital Swiss franc (DCHF).

According to Sygnum, this is a yield-generating, tokenized investment option with a three-month term and an annual return of 0.75%. The DCHF is linked to the value of the Swiss franc. The token allows for on-chain management of digital assets without the use of intermediaries.

Sygnum intends to offer its consumers the ability to generate income using a risk-optimized product in a regulated environment through the DCHF fixed-term deposit. Customers can exchange Swiss francs for DCHF, using the integrated Sygnum account. Customers can use this to purchase, sell, and retain deposits, digital properties, and asset tokens.

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Keywords: product launch, cryptocurrency, tokenization, investment, crypto asset
Categories: DeFi & Crypto & Web3
Countries: Switzerland
This article is part of category

DeFi & Crypto & Web3