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First E-Commerce Transaction Using Bank-Issued Stablecoin Carried Out In Switzerland
Summary: The largest online retailer in Switzerland, Galaxus, may soon start accepting payments in a stablecoin issued by local bank Sygnum, according to a recent announcement. The statement reads that the two companies have completed a payment using the stablecoin known as the Digital Swiss Franc (DCHF). The e-commerce transaction was supported by coin payment processor ...
The largest online retailer in Switzerland, Galaxus, may soon start accepting payments in a stablecoin issued by local bank Sygnum, according to a recent announcement.
The statement reads that the two companies have completed a payment using the stablecoin known as the Digital Swiss Franc (DCHF). The e-commerce transaction was supported by coin payment processor Coinify.
DCHF is pegged 1:1 with the Swiss Franc and allows for payments to be processed in real time. The companies claimed in the announcement that the stablecoin eliminates the need for card systems, reduces costs and frauds, and helps forge a direct connection between online retailers and consumers.
By Emily Mason
Tags: Coinify,Galaxus,Swiss Franc
Link: First E-Commerce Transaction Using Bank-Issued Stablecoin Carried Out In Switzerland [Copy]
