U.S. markets open in 4 hours 51 minutes
  • S&P Futures

    4,293.75
    -14.00 (-0.32%)
     
  • Dow Futures

    34,046.00
    -72.00 (-0.21%)
     
  • Nasdaq Futures

    13,592.50
    -65.75 (-0.48%)
     
  • Russell 2000 Futures

    2,017.70
    -5.60 (-0.28%)
     
  • Crude Oil

    86.15
    -0.38 (-0.44%)
     
  • Gold

    1,788.10
    -1.60 (-0.09%)
     
  • Silver

    19.95
    -0.13 (-0.65%)
     
  • EUR/USD

    1.0178
    +0.0007 (+0.07%)
     
  • 10-Yr Bond

    2.8240
    0.0000 (0.00%)
     
  • Vix

    19.94
    -0.01 (-0.05%)
     
  • GBP/USD

    1.2112
    +0.0018 (+0.15%)
     
  • USD/JPY

    134.7780
    +0.5630 (+0.42%)
     
  • BTC-USD

    23,823.41
    -193.18 (-0.80%)
     
  • CMC Crypto 200

    568.66
    -3.25 (-0.57%)
     
  • FTSE 100

    7,534.16
    -1.90 (-0.03%)
     
  • Nikkei 225

    29,222.77
    +353.86 (+1.23%)
     

Crypto Bank Sygnum Offering Yield on Its Swiss Franc Stablecoin

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Swiss crypto bank Sygnum is launching a yield product based on its own stablecoin, DCHF.

  • The licensed Swiss bank said in a press release Tuesday that its three-month fixed-term deposit product will generate 0.75 percent yield per year.

  • Sygnum claims to be the first regulated bank to offer returns on its own stablecoin.

  • The product was launched to meet demand for a yield-generating money market product denominated in Swiss Francs, according to the announcement.

  • “We created this product for our clients who are looking to protect the value of their wealth while maintaining short to medium-term liquidity,” said Pascal Gähweiler, Sygnum Bank’s head of credit and lending.

  • Deposits of the stablecoin, which is pegged to the Swiss franc on a 1:1 basis, are covered by the Esisuisse insurance scheme, according to Sygnum.

Read more: Japan’s SBI Investing ‘Eight-Figure’ Sum in Swiss Crypto Bank Sygnum

Related Stories