CryptoFranc
Crypto Overview
Purpose and Utility
CryptoFranc (XCHF) is a stablecoin backed by the Swiss Franc, created by Bitcoin Suisse AG. The token is designed to maintain a 1:1 peg with the Swiss Franc through full collateralization with Swiss Francs held in bank accounts.
Business Model
The business model is straightforward and transparent: Bitcoin Suisse holds Swiss Francs as collateral in segregated bank accounts and issues XCHF tokens accordingly. Users can redeem XCHF for Swiss Francs at any time, ensuring stability and trust. The model operates without interest or lending mechanisms.
Real-World Adoption
XCHF is primarily used for trading and as a stable store of value within the crypto ecosystem. It has gained traction particularly among Swiss and European crypto users looking for a stable Swiss Franc-pegged digital asset. The token has maintained its peg consistently since launch.
Platform Development
The platform is maintained by Bitcoin Suisse AG, a well-established Swiss crypto financial services provider. Regular audits are conducted to verify the backing of tokens with actual Swiss Francs.
Token Distribution
The token supply is entirely based on user demand and backed 1:1 with Swiss Francs. There is no pre-mine or founder allocation, as tokens are only created when users deposit Swiss Francs.
Crypto Impact
To assign a comfort level investing in CryptoFranc from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to CryptoFranc.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.