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.
The value of Sygnum’s DCHF is pegged 1:1 to the Swiss Franc. Unlike unaudited stablecoins issuers, Sygnum is a regulated bank that holds as collateral one Swiss Franc in the Swiss National Bank for every DCHF it generates in its client accounts.
When used for e-commerce payments, no intermediaries are involved, and the transactions happen in real-time with stable values. This reduces costs for online retailers by eliminating card systems and protecting against fraud, as well as simplifying and speeding the customer purchase experience. This seamless connection between the digital and traditional economies has the potential to revolutionise the e-commerce industry and forge direct connections between consumers and online retailers.
“Galaxus strengthened its position as an e-commerce pioneer by accepting digital currencies as a means of payment in early 2019” comments Thomas Fugmann, Galaxus’ CFO. “Enabling our customers in Switzerland and Liechtenstein to make payments on our online store with stable digital currencies like the DCHF further enhances their convenience,” he also says."
(Press release / SK)