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Sygnum Bank rolls out stablecoin tied to Swiss franc

Wednesday 25 March 2020 14:06 CET | News

Sygnum Bank, a licensed digital asset bank, has launched Sygnum Digital CHF (DCHF) – a stablecoin  tied to the Swiss Franc (CHF). 

DCHF is expected to hold the equivalent amount of CHF as collateral at the Swiss National Bank (SNB). Sygnum accounts accept deposits in traditional fiat currencies including CHF, EUR, SGD and USD, and via a banking portal these balances can be transferred into Sygnum DCHF tokens. Moreover, Sygnum clients can buy, trade and hold a range of digital assets in one account, including Bitcoin, Ethereum and other cryptocurrencies.

Sygnum’s DCHF can be transferred in real-time, resulting in almost immediate transactions and eliminating the need for intermediaries. For institutional clients, the Sygnum DCHF is designed to be a part of the digital asset ecosystem that enables the integration of asset tokens into banking infrastructure.

Furthermore, Sygnum’s tokenization solution is designed to raise new capital for corporates by producing digital assets based on existing financial assets, according to Crowdfund Insider.



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Keywords: Sygnum Bank, DCHF, tokenization, stablecoin, Swiss franc, cryptocurrency, Ethereum, Bitcoin, banking, DCHF, transactions, Switzerland, Swiss National Bank, CHF, EUR, SGD, USD
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Switzerland
This article is part of category

Blockchain & Cryptocurrencies