Swiss startup promises to release the first steamcon, tied to the Swiss franc
Swiss startup Smart Valor promises to release the country’s first steamcon, tied to the national currency. The intention to create a coin pegged to the Swiss franc, and together with partners to create the infrastructure to support it, the company announced during the summit of cryptocurrency in Zurich. ChepiCap reported, citing local media.
The Executive Director of Smart Valor Olga Feldmeier stated that the company forms a network of independent issuers stablon tied to the Swiss currency. Smart Valor has already partnered with several banks and crypto exchanges, as well as with the auditing company from the Big four.
Clients of banks — partners of the startup can open cryptocurrency wallets on the platform Smart Valor and to stabilini in the amount equivalent to the amount of Fiat francs in their accounts.
Fiat money will remain in the Bank as collateral, and the resulting stabilini customers can use for operations on cryptomeria. Feldmeier said:
The advantage of our product is that the Swiss franc is one of the few really stable national currency with the status of a safe haven currency. Over the last 50 years, even the U.S. dollar has lost 70% of its value against the franc.
Note that Smart Valor, claiming the title of pioneer, there are competitors. For example, stablein on the basis of the Swiss franc under the name ROCKZ, also a similar coin of preparing the Liechtenstein Union Bank.