Sygnum launches Swiss franc-backed stablecoin

The Zurich crypto-bank Sygnum announced the launch of a stable digital part that follows the value of Swiss franc (CHF).

Baptized DCHF, the stablecoin is fully supported by swiss francs (1: 1 ratio) that Sygnum canned Swiss National Bank, the country's central bank, reports SwissInfo.

According to Mathias Imbach, co-founder of Sygnum, " the stablecoins are of paramount importance for the development of the digital asset economy. "

Our DCHF creates considerable operational efficiencies and also fosters the development of new business models, ”he added.

Sygnum, which is collaborating today with the SIX group on the construction of its SDX platform, said that its token could notably be used to pay dividends on digital stocks thanks to an automated system of smart contracts.

Last year, the bank based in Zurich and Singapore announced that they have obtained a banking license with the Swiss Federal Financial Markets Authority (FINMA).

Sygnum offers a tokenization service and also allows institutional and private investors, companies and other financial institutions to trade and securely store digital assets like Bitcoin and Ethereum.