Sygnum Bank announced the launch of its digital CHF token (DCHF). This CHF-pegged settlement token is the first to be issued by a regulated Swiss bank with a full digital asset banking suite
Sygnum’s DCHF is a key component for leveraging the advantages of DLT-based financial infrastructure, including immediate delivery vs payment (T=0) and no counterparty risk, thereby transferring value more efficiently
The settlement token framework and technology developed for Sygnum’s DCHF can be replicated with other major national currencies
Sygnum, the world’s first digital asset bank, has launched the Sygnum Digital CHF (DCHF), a settlement token pegged to the Swiss Franc. For every settlement token minted in its customer accounts, Sygnum, a regulated Swiss bank, will hold the equivalent amount of CHF as collateral in the Swiss National Bank (SNB). As a Bank, Sygnum and its products and services are regularly audited.
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Mathias Imbach, Sygnum Co-Founder and CEO Singapore.
“The Sygnum DCHF is an integral part of our tokenization offering, facilitating settlement of transactions and execution of smart contract payment structures, for example dividend pay-outs and other corporate actions.”
Markus Hartmann, Sygnum Bank’s Head of Tokenization.