The first ever ecommerce transaction using a bank-issued stablecoin has been made.
In Brief:
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Digital currency platform provider Coinify enabled the transaction.
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It was made using the Sygnum Digital Swiss Franc.
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A stablecoin is a kind of cryptocurrency linked to an asset (like fiat or gold) to make it more “stable”.
What does this mean?
According to Coinify, moving forward stablecoins have the potential to negate the need for card systems and make transactions safer and cheaper.