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22 September 2020

The Crypto Firms Collaborating on a Swiss Franc Stablecoin - CoinDesk

The Crypto Firms Collaborating on a Swiss Franc Stablecoin - CoinDesk

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“Within the Crypto Valley and here in Switzerland, there’s a very good collaboration going on, where everyone’s working together to try to design a Swiss franc stablecoin which has more or less the same definition or is fully interoperable,” said Matthew Alexander, SEBA Bank’s head of asset tokenization. .

The end goal, Alexander said, is that “you’ve got something which a consumer, or a central bank, or a corporate can trade with anybody else because they know they have the same thing on the other side.” .

We think that there will probably be multiple stablecoins for multiple purposes, but agree that you don’t need 200 stablecoins with a Swiss franc common denominator.”.

The firm’s Swiss Crypto Tokens AG subsidiary was the first of the three to come out with a Swiss franc stablecoin, the CryptoFranc (XCHF).

“Within the Swiss crypto industry, we are in frequent discussion with partners and other stablecoin issuers to see what cooperation and new use cases may make sense for the XCHF and how we can further adoption of cryptocurrencies in general,” said Armin Schmid, CEO of Swiss Crypto Tokens. .

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