Swiss Longevity Holding (SLH) To Launch CHF-backed SWIS StableCoin
On July 14th, 2018, Swiss Longevity Holding AG introduced their plan to launch SWIS, a stable coin backed by Swiss Franc (CHF).
“Stable coin” is a term used in cryptocurrency to describe cryptocurrencies meant to hold stable values. There are a number of stable coins in circulation today, and a number more have been attempted in the past. Each stable coin has a unique mechanism, but they all generally work the same way.
They hold collateral of some type and manage the supply to help incentivize the market to trade the coin for no more or less than $1. As cryptocurrency trading gets more and more active, volatility of major cryptocurrencies such as BTC and ETH becomes a public concern.
These tokens are much more accepted by institutional investors and personal investors with limited risk appetite. The mission of SWIS is to ensure utmost safety. SWIS is backed by 1-for-1 Swiss Franc, which is traditionally considered as one of the safe haven currencies in the financial industry, especially during a worldwide financial crisis.
The estimated volume will reach $100M by the year-end, and it’s going to be issued on Ethereum standard. Swiss political neutrality fundamentally ensures external security and makes Swiss Franc (CHF) immune from international armed conflicts. Switzerland is also one of the countries most open and welcome to cryptocurrencies and ICO.
SLH plans to launch its new cryptocurrency in August this year. The company hopes to provide financial inclusion to the public through the varied application of SWIS.