Important note about the upcoming Merge in Ethereum - published on 18 August 2022
The smart contracts of the stablecoin XCHF will remain operational on the Ethereum blockchain after the “Merge” to the Proof-of-Stake consensus protocol. Users should be aware that Bitcoin Suisse Ltd, as the issuer of XCHF, will only consider the Proof-of-Stake forked version of the Ethereum blockchain to be legally binding under the Token Terms as published on its website. XCHF smart contracts may be 'paused' on other chains, including Proof-of-Work forked chains, in which case no transactions could be made any more on those chains. Users are advised to temporarily abstain from using the XCHF smart contracts during the period around the Merge to avoid increased risk associated with the transition to the Proof-of-Stake consensus protocol. No action is required to upgrade on the part of users. Users should be on high alert for scams trying to take advantage of them during the transition. Furthermore, Bitcoin Suisse Ltd will not technically support the XCHF smart contracts on chains other than the Proof-of-Stake forked version of the Ethereum blockchain.
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.
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.
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
Blockimmo tokenizing real estate
Aktionariat enables private companies to independently create, buy and sell company shares on their own websites
quitt. as a lead customer of Aktionariat using XCHF to buy and sell tokenized shares
i.AM Innovation Lab to tokenize shares on the public Ethereum blockchain using XCHF
Frequently Asked Questions
What are the benefits of XCHF?
XCHF brings fiat CHF to the Ethereum blockchain.
Where can I buy & sell XCHF?
Who is using XCHF?
See the selected implementations of XCHF just above.
Who is behind XCHF?
XCHF is the first payment token issued by Bitcoin Suisse AG.
How are the assets guaranteed?
The assets are backed by a bank guarantee issued by a Swiss bank.
What are the fees?
For buying and selling XCHF, trading fees as per the exchanges apply.