Key Information
February 28, 2025
Important Notice to CryptoFranc (XCHF) Token Holders
On August 16 and 23, 2024, Bitcoin Suisse AG announced the discontinuation of the stablecoin CryptoFranc (XCHF), including issuance and redemption (see SHAB notices FM12-0000000239 and FM12-0000000240). Based on an order from the Zug cantonal court dated February 5, 2025, Bitcoin Suisse AG is entitled to transfer all remaining funds to the following depositary:
CMP Group AG, Neuhofstrasse 3c, 6340 Baar, CHE-389.434.488.
Effective as of today, CMP Group AG holds the remaining funds in custody for the benefit of XCHF token holders.
Further information
All relevant information and announcements regarding the further development in the discontinuation of the CryptoFranc (XCHF) will be published on this website.
In case of questions
Should you have any questions, please feel free to reach out to us via our Bitcoin Suisse Support Center, using the subject line “XCHF Exit”.
August 16, 2024
Important Notice to CryptoFranc (XCHF) Token Holders
Bitcoin Suisse AG hereby announces the discontinuation of the stablecoin CryptoFranc (XCHF), including issuance and redemption. Consequently, we have progressively reduced the amount of XCHF in circulation throughout the year 2024. As a current CryptoFranc (XCHF) token holder, you are kindly requested to transfer your XCHF token holdings to Bitcoin Suisse AG.
For non-Bitcoin Suisse clients who hold XCHF
Please note that, based on the applicable Token Terms, Bitcoin Suisse AG can fulfill all claims in connection with the CryptoFranc (XCHF) with immediate effect and in the form provided in the Token Terms. Bitcoin Suisse AG hereby asks all XCHF token holders to transfer their XCHF tokens to Bitcoin Suisse AG in order to redeem such holdings in exchange for Swiss franc (CHF) in accordance with our Token Terms.
Bitcoin Suisse AG hereby confirms its intention to fulfill claims in connection with the XCHF upon successful receipt of the XCHF tokens on the wallet address of Bitcoin Suisse AG. XCHF token holders are hereby requested to take all necessary steps to enable Bitcoin Suisse AG to make the payment in accordance with the Token Terms. Please contact us via our Bitcoin Suisse Support Center, using the subject line “XCHF Exit”. Payment will be subject to compliance with legal requirements.
Background of our decision
This decision to discontinue the stablecoin CryptoFranc (XCHF) aligns with Bitcoin Suisse's strategic focus on crypto investment services. We continue to see significant potential in stablecoins and their various use cases, especially if they are freely transferable in secondary markets, and their various use cases and we will continue to evaluate alternatives to XCHF in the future.
Further information
All relevant information and announcements regarding the further development in the discontinuation of the CryptoFranc (XCHF) will be published on this website.
In case of questions
Should you have any questions, please feel free to reach out to us via our Bitcoin Suisse Support Center, using the subject line “XCHF Exit”.
Further Information
Ethereum technology - How it works
The XCHF token is issued on the Ethereum blockchain and adheres to the ERC-20 standard. The smart contract is linked here. Further details can be inspected on Etherscan. For legal details, please refer to the token terms.
Audited and Secure - Code Audit
The smart contract of the XCHF token has been audited and analyzed with a variety of tools for automated security analysis of Ethereum smart contracts by Chain Security AG. The auditor found no critical issues and their recommendations have been successfully mitigated before deployment of the smart contract.
Ethereum Technology - Three Layers
1. XCHF is a payment token, issued and transferable on the Ethereum Blockchain, based on the ERC-20 standard and pegged to the Swiss Franc in a 1:1 ratio.
2. The XCHF token is issued by Bitcoin Suisse AG.
3. Each XCHF token represents a claim of one Swiss Franc against the Issuer and is backed by a bank guarantee.
Purpose
The main purpose of the CryptoFranc is to serve as a means of payment for the Swiss blockchain ecosystem as a transactional currency.
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