Swiss Bank Announces First Stablecoin Commercial Payment

Swiss Bank Announces First Stablecoin Commercial Payment

Sygnum, a regulated Swiss bank has announced an integration with Switzerland’s biggest retailer, Digitec Galaxus, for payment with tokenized Swiss Franks, DCHF. They say:

“Over USD 3.5 trillion per year, including USD 11 billion in Switzerland, pass through a chain of payment service providers and card systems during e-commerce transactions.

The multiple processes required to approve and facilitate payments provides opportunities for fraud and increase online retailers’ transaction costs and chargebacks.

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