On the first day of the crypto currency summit in Zurich, Switzerland, Smart Valor, which is looking to democratize investment opportunities using blockbuster technology, has launched a project to develop the country's first stable currency supported by the Swiss franc.
Smart Valor, based in Switzerland's famous Krypto Valley, is looking to take another step by developing its stable currency (CHFt Smart Valor), which will also serve as a technical supplier that provides the infrastructure for local financial institutions licensed to issue the Swiss franc. Smart Valor CEO Olga Fildemir said the company was developing a network of stable currency exporters from the Swiss franc, in an attempt to reduce the risk of currency failure in the event of a collapse of an exporter.
Smart Valor said it was in partnership with banks, digital currency platforms and one of four major accounting firms. Participating bank customers will also be able to open a digital currency portfolio on the Smart Valor platform and get an immediate CHFT balance equal to the Swiss franc, while the paper currency will remain with banks as collateral. This gives customers immediate access to the global currency trading platforms.
He said:
"The advantage of our proposed solution is that the Swiss franc is one of the few truly stable national currencies that are safe haven. Even today's dominant currency, the dollar, has lost about 70 percent of its value compared to the Swiss franc over the past 50 years.