Sygnum Bank and Coinify in ‘world first’ e-commerce payment on stablecoin

11 mins ago 27 August 2020
A trio of firms have carried out a “world first” e-commerce transaction using a bank-issued stablecoin.
According to Sygnum Bank and Coinify, the Sygnum Digital Swiss Franc (DCHF), pegged 1:1 with the Swiss Franc, was used for a transaction with Swiss retailer Galaxus. The transaction was enabled by digital currency platform provider Coinify.
Sygnum says the development has “the potential to revolutionise” the $3.5 trillion e-commerce industry and “forge direct connect…

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