Bitcoin
$63,375.77+0.27%
Ethereum
$3,091.52+0.03%
Binance Coin
$543.16-2.09%
Solana
$136.04-0.63%
XRP
$0.49642474+0.75%
Dogecoin
$0.15659897-1.20%
Toncoin
$6.17-6.82%
Cardano
$0.45861121+1.10%
Shiba Inu
$0.00002272+4.86%
Avalanche
$34.95-0.12%
Wrapped Bitcoin
$63,640.66+0.49%
Tron
$0.11180699+0.81%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
03
DAYS
22
HR
37
MIN
43
SEC
Finance

Crypto Bank Sygnum Offering Yield on Its Swiss Franc Stablecoin

The licensed Swiss firm claims to be the first regulated bank to offer returns on its own stablecoin.

By Tanzeel Akhtar
AccessTimeIconMar 16, 2021 at 11:05 a.m. UTC
Updated May 9, 2023 at 3:17 a.m. UTC
Swiss francs

Swiss francs

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.
VolumeMuteUnmute

Bitcoin Hovers Near $65.5K; Cross-Chain Bridge Wormhole Debuts at $3B Valuation

  • Large Cap Fiat-Backed Stablecoins Depegged Over 600 Times in 2023: Moody’s Analytics
    05:04
    Large Cap Fiat-Backed Stablecoins Depegged Over 600 Times in 2023: Moody’s Analytics
  • BlackRock's Spot Bitcoin ETF Filing 'Will Get Approved,' Mark Yusko Predicts
    10:58
    BlackRock's Spot Bitcoin ETF Filing 'Will Get Approved,' Mark Yusko Predicts
  • UK and EU Push Ahead on Stablecoin Regulation; Hong Kong Approves Another Crypto Exchange
    26:05
    UK and EU Push Ahead on Stablecoin Regulation; Hong Kong Approves Another Crypto Exchange
  • Stablecoin Plans From UK Regulators Is the 'Next Stage' for Crypto Regulation: Legal Expert
    01:14
    Stablecoin Plans From UK Regulators Is the 'Next Stage' for Crypto Regulation: Legal Expert

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

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.