• Centi has launched a stablecoin pegged to the Swiss franc, called the Centi Franc Stablecoin (CCHF).
• The token is backed 1:1 by a Swiss bank guarantee and will serve as the basis for its blockchain-based Global Payment Network.
• This network aims to reduce the cost and time it takes for merchants to settle transactions and receive funds, providing an alternative to existing payment providers such as Paypal, VISA, and Mastercard.
Centi Launches CHF Stablecoin
Centi has announced the launch of a stablecoin pegged to the Swiss franc on March 21st, known as the Centi Franc Stablecoin (CCHF). This token is fully backed 1:1 by a Swiss bank guarantee.
Global Payment Network
The CCHF coin serves as the basis for Centi’s blockchain-based Global Payment Network. The goal of this network is to significantly reduce the cost and time it takes for merchants to settle transactions and receive funds. It provides an alternative to established payment providers like Paypal, VISA, and Mastercard which are often expensive or slow.
Merchants do not need prior crypto knowledge or additional hardware/software in order to use Centi’s payments network; it is already integrated with current POS systems so onboarding can be done quickly. Furthermore, users don’t have to change their accounting practices either.
Centi claims that processing payments through its network is 90% cheaper than traditional payment providers such as Paypal, VISA, and Mastercard. By using this platform instead of relying on „deep-pocketed middlemen“ with hidden fees and costs, buyers and sellers can interact directly with each other in real-time without any intermediaries involved in settling transactions.
Centi believes that its platform provides a „blueprint“ for how digital currencies should work together with fiat off-ramps in order to facilitate payments more efficiently. The company also hopes that its platform can be used as an example of how future central bank digital currencies (CBDCs) could operate if they were ever implemented worldwide in some capacity in the future.
Overall, Centi’s new payment network promises significant cost savings compared to existing payment providers like Paypal, VISA, and Mastercard while also providing buyers and sellers with real-time settlement without any intermediary involvement required from deep-pocketed middlemen who impose hidden fees or costs on transactions processed through them