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According to reports, Swiss payment startup Centi announced the launch of its stable currency linked to the Swiss franc, supported by a Swiss bank with a 1:1 ratio. Centi has devel

Introduction

According to reports, Swiss payment startup Centi announced the launch of its stable currency linked to the Swiss franc, supported by a Swiss bank with a 1:1 ratio. Centi has developed a comprehensive payment processing engine that relies entirely on cutting-edge web3 infrastructure. Centi’s solution allows merchants to pay and settle directly to their banks in the legal currency of their choice, without changing accounting procedures or possessing any encryption knowledge, while reducing fees and costs by up to 99%.

Pay start-up Centi to issue Swiss franc stable currency

Stablecoins have gained massive popularity over the years, and according to reports, Swiss payment startup Centi is set to launch its own stable currency linked to the Swiss franc. The stablecoin aims to reduce transaction fees and costs by up to 99% while allowing merchants to pay and settle directly to their banks in the legal currency of their choice, without changing accounting procedures or possessing any encryption knowledge. This article aims to explore Centi and its stablecoin in detail.

The Concept of Stablecoins

Stablecoins are cryptocurrencies designed to maintain a stable value, ensuring a steady price for buyers and sellers, unlike normal cryptocurrencies that can experience major price fluctuations over time. One of the best ways to achieve this stability is by tying them to another stable asset like fiat currency or commodities. Stablecoins have been adopted and used around the world by various individuals and businesses, and as such, it is essential to understand what sets them apart from other cryptocurrencies.

Centi and its Stablecoin

Centi is a Swiss payment startup that has developed a comprehensive payment processing engine that relies entirely on cutting-edge web3 infrastructure. The startup has launched its stable currency linked to the Swiss franc supported by a Swiss bank with a 1:1 ratio, allowing merchants to pay and settle directly to their bank accounts. This feature eliminates the need for intermediary payment processors and reduces fees and costs associated with traditional payment systems.

Benefits of Centi’s Stablecoin

Centi’s stablecoin brings unique benefits to merchants looking to reduce their transaction fees and costs. One major benefit is the ability to pay and settle directly to their banks in the legal currency of their choice, without changing accounting procedures or possessing any encryption knowledge. Additionally, the stablecoin allows for peer-to-peer fund transactions, with minimal transaction fees.
Compared to other payment systems, Centi’s stablecoin offers a faster and more efficient settlement process while still maintaining the same level of stability as fiat currency. Merchants can also rely on their funds being value-preserving, as they are backed by a 1:1 ratio with the Swiss franc.

How Businesses Can Benefit from Centi’s Stablecoin

Businesses all over the world can benefit from Centi’s stablecoin as it offers a faster, cheaper, and more secure payment option. The stablecoin eliminates the need for costly third-party payment processors and provides a convenient peer-to-peer payment model that allows funds to be transferred seamlessly, reducing transaction fees.
Moreover, businesses transacting with customers overseas can benefit from Centi’s stablecoin as it eliminates currency exchange costs and simplifies payment procedures. Transactions are also processed faster, allowing businesses to receive their funds quickly and efficiently.

Conclusion

Stablecoins like Centi’s are revolutionizing the way businesses handle payments, making transactions faster, more secure, and cheaper. Centi’s stablecoin allows merchants to pay and settle directly to their banks in the legal currency of their choice, reducing fees and costs by up to 99%. The financial industry is evolving, and Centi’s stablecoin is a prime example of how payment systems are becoming more efficient, easy to use, and cost-effective.

FAQs

1. Is Centi’s stablecoin safe to use?
Yes, Centi’s stablecoin is designed to maintain a stable value, ensuring a steady price for buyers and sellers, making it a safe payment option for merchants.
2. How does Centi’s stablecoin compare to traditional payment systems?
Centi’s stablecoin is faster, more efficient and cheaper than traditional payment systems, allowing merchants to conduct fast, secure and cost-effective transactions with customers.
3. Can businesses transacting with international customers benefit from Centi’s stablecoin?
Yes, businesses can greatly benefit from Centi’s stablecoin, as it eliminates currency exchange costs, simplifies payment procedures, and reduces transaction fees for both parties.

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