Zurich-based payment startup Centi has launched a stablecoin tied to the Swiss franc. Several merchant acceptance systems have been developed around the Centi Franc.
Merchants can accept the new stablecoin in their online stores or even at physical points of sale. Payments will be credited generally to the respective bank account, as merchants are used to in the credit card industry. There should explicitly be no need to change accounting processes or even build up crypto knowledge internally. By accepting the centi franc, merchants should save around 90 per cent of fees compared to established payment methods and even 99 per cent for small payments.
Bernhard Müller, CEO and founder of Centi says: “With Centi, we have created a new type of payment universe without the old familiar players of the credit card industry. Our approach here is to make blockchain technology usable for everyone. You don’t need any background knowledge of crypto at all. Our payment processing solution is just the first practical application, with more to come. The system is also built entirely on Open API principles. From the beginning, we have taken the approach that other developers can also program their apps on our systems. “