Swiss Blockchain Startup to Roll Out CHF-Backed Stablecoin

  • Alex Dovbnya
    📰 News

    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

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.

Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an 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.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings