Swiss bank launched a new stablecoin

The bank’s DCHF is a bridge between other digital assets and fiat currencies, thus increasing transaction ease and efficiency

digital token

Swiss bank’s digital token goes live. Source: unsplash.com

Sygnum has announced the launch of the Sygnum Digital CHF (DCHF), a stablecoin pegged to the Swiss Franc. This way, for every stablecoin minted in its customer accounts, Sygnum will hold the equivalent amount of CHF.

Besides, Sygnum’s DCHF can be transferred in real-time, resulting in almost immediate settlement of transactions. What is more, it eliminates the need for intermediaries.

The Sygnum DCHF is an integral part of our tokenization offering, facilitating settlement of transactions and execution of smart contract payment structures, for example, dividend pay-outs and other corporate actions
Markus Hartmann, Sygnum Bank’s Head of Tokenization

According to the statement, Sygnum’s tokenization solution enables corporates to raise new capital by producing asset tokens based on existing financial assets. It plans to improve the life-cycle management of securities issuance and investment as well.

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