CryptoFranc (XCHF) - the Swiss Franc Stablecoin
The CryptoFranc (XCHF) is a stablecoin bound to the Swiss Franc and classifies as a payment token in accordance with the FINMA ICO guidelines.
Value: 1 XCHF = 1 CHF
Payment Token
269’732 XCHF in Circulation
Fully backed token
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.
Settlement procedure to qualify for CHF payment
Remaining XCHF token holders are advised to follow the settlement process below:
- Token holders are requested to get in touch with Bitcoin Suisse AG through the Bitcoin Suisse Support Center, using the subject line “XCHF Exit”.
- Token holders will be registered as potentially eligible for CHF payment. Please provide the information necessary for your registration.
- Bitcoin Suisse AG will communicate a blockchain address to which token holders must send their remaining XCHF tokens.
- Upon confirmed blockchain transaction, Bitcoin Suisse AG will inform CMP Group AG about the successful registration of the token holder.
- Token holders must then get in contact with CMP Group AG using the contact details provided to them by Bitcoin Suisse AG.
- Token holders will be onboarded at CMP Group AG, subject to compliance with applicable regulations and laws.
- Upon successful onboarding, the CHF amount owed to the token holder is paid to the token holder’s personal bank account.
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 Bitcoin Suisse clients who hold XCHF
Effective immediately, Bitcoin Suisse AG no longer supports the purchase of XCHF as well as withdrawals of XCHF to private wallets on our platform. We kindly ask all clients to trade their remaining XCHF tokens against another cryptocurrency or fiat currency by Monday, 30 September 2024, at the latest.
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”.
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.
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.
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.
Selected Implementations of XCHF
Aktionariat
Aktionariat enables private companies to independently create, buy and sell company shares on their own websites
