Pay start-up Centi to issue Swiss franc stable currency

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%.

Interpretation of this information:

Swiss payment startup Centi has unveiled a stable currency, linked to the Swiss franc and supported with a 1:1 ratio by a Swiss bank. The announcement follows a successful fundraising round, which was closed by Centi, aimed at raising capital in order to develop their payment processing engine. The payment infrastructure relies solely on cutting-edge web3 technology, which offers transparency and security between parties involved in transactions.

Centi has developed a solution that allows merchants to pay and settle transactions directly to their banks in the currency of their choice, without needing to be proficient in encryption or change their accounting procedures. These benefits are said to reduce fees and costs by up to 99%, presenting a significant incentive for merchants of all sizes. Furthermore, the stable currency offers merchants a sense of financial security, as it is pegged to the Swiss franc, which is renowned for its stability.

In addition to offering a stable currency, Centi’s payment processing infrastructure operates on web3 technology, which offers complete end-to-end transparency for all parties involved. In this way, the technology enables online businesses the facility to interact with one another securely and seamlessly.

The introduction of a stable currency is particularly noteworthy since it adds another layer of security and stability to the range of services offerings by Centi. As merchants continue to adopt stable currencies, they can enjoy more control over their payment processing, reduce fees, and entirely eliminate currency risks. The need for such innovations in payment processing technology is driven by consumers shifting towards online, mobile, and contactless payment methods.

The three summarizing keywords for this announcement are centi, stable currency, and web3 infrastructure. Centi is a Swiss payment startup offering a stable currency linked to the Swiss franc, which reduces fees and costs by up to 99% and operates entirely on the cutting-edge web3 infrastructure. The benefits of this innovative technology are reduced fees, transparency, and security for both merchants and consumers.