Swiss Blockchain Startup to Roll Out CHF-Backed Stablecoin

Alex Dovbnya
CHFt joins a bevy of recently launched stablecoins that aim to tackle the extreme volatility problem while Bitcoin is becoming less prone to price fluctuations
Swiss Blockchain Startup to Roll Out CHF-Backed Stablecoin
Cover image via U.Today

Swissinfo reports that a Blockchain-powered startup Smart Valor has recently launched a new digital asset pegged to the Swiss Franc. The new cryptocurrency, dubbed the CHFt coin, is now among the bevy of stablecoins that are experiencing a rapidly growing popularity in the cryptocurrency space.

On Monday, the company that allows trading digitally tokenized assets announced that it is already cooperating with local banks and crypto exchanges in order to launch the CHFt stablecoin.

Olga Feldmeier, CEO of Smart Valor, reveals that the emergence of stablecoins will facilitate the growth of “token economy.” The extreme volatility of the fledgling asset class has always been a turn-off for investors.

Meanwhile, Bitcoin appears to be more stable than tech stocks with a two-year low volatility.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.