Buy CryptoFranc (XCHF)

What is CryptoFranc?

CryptoFranc (XCHF) is an ERC-20 stablecoin issued by Swiss Crypto Tokens AG, a subsidiary of Bitcoin Suisse AG. It represents a Swiss Franc denominated bond and is fully backed by physical CHF bank notes, which are audited monthly by Grant Thornton Bank Audit Ltd. It is designed to be a stablecoin, providing a reliable and secure means of exchange and store of value within the blockchain ecosystem.

How does CryptoFranc work?

CryptoFranc operates on the Ethereum blockchain, utilizing the ERC-20 standard, which ensures compatibility with a wide range of Ethereum-based applications. As an ERC-20 token, it benefits from the security and reliability provided by Ethereum's smart contracts. The coin is pegged 1:1 to the Swiss Franc, ensuring its stability as a currency. Its backing by physical CHF bank notes adds an additional layer of security, with monthly audits by Grant Thornton Bank Audit Ltd to verify the holdings.

What are the potential use cases for CryptoFranc?

CryptoFranc (XCHF) can be used in various scenarios where stability and reliability are required:

• Stable Store of Value: It serves as a safe method to store assets without exposure to the volatility typical of cryptocurrencies.
• Hedge Against Volatility: Investors can use XCHF to protect against cryptocurrency market fluctuations.
• DeFi Applications: It is suitable for use in decentralised finance (DeFi) platforms for lending, borrowing, and collateralisation.
• Cross-border Payments: Facilitates quick, stable cross-border transactions without the exchange rate risks associated with traditional fiat currencies.
• Financial Services: It can be used in settlements and as a medium of exchange in financial transactions, supporting industries such as e-commerce and digital economies.

What is the history of CryptoFranc?

CryptoFranc (XCHF) is the result of efforts by Swiss Crypto Tokens AG to introduce a stablecoin that supports the Swiss blockchain ecosystem. While specific historical details such as the founding team and exact launch date are not extensively documented, the token is notable for its monthly audit process and backing by physical Swiss Francs, ensuring transparency and trust. It was designed to mitigate volatility and counterparty risks often associated with traditional fiat currencies and cryptocurrencies.