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Crypto Bank Sygnum Offering Yield on Its Swiss Franc Stablecoin

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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

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