Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: vaysar on December 23, 2018, 09:17:33 AM
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X8 AG, another innovative Swiss-based blockchain technology company has come out with a new generation stable coin called the X8Currency — an Ethereum based stable coin with the following robust features:
The digital token is fully compliant with the laws set forth by the Swiss regulatory regime.
X8X is backed by a basket of eight fiat currencies (US Dollar, Swiss Franc, Euro, Pound Sterling, Japanese Yen, Australian, New Zealand and Canadian Dollar) & reserves of Gold. The basket of fiats & the precious commodity backing creates a factor of price stability & value preservation.
The digital tokens are backed by assets of equal value deposited in bank accounts to match the value which gives credibility to the project. Also the fiat currency backing provides the much needed liquidity.
Risk & Funds management is conducted by proven & tested AI platform called ARM, a hallmark of this project.
Finally as a cherry on top, the project has obtained certification from the Shariyah Review Bureau (SRB) for it being compliant with Islamic finance laws which has opened up the untapped Middle Eastern market for them. The team is already in talks with local exchanges of Abu Dhabi, Dubai, and Bahrain and also intend to open a regional office in the Middle East.
Switzerland has the distinction of hosting more than 500 Blockchain/Crypto projects mostly around the Crypto valley of Zug. With the comprehensive regulatory environment & a digital-friendly economy, Switzerland has become ground zero for launching & achieving a financial services paradigm shift.
A source: https://medium.com/datadriveninvestor/swiss-blockchain-startups-launch-a-crypto-bank-etp-ai-managed-stablecoin-a3acf96d7e8c