Hdac Technology, issues Stablecoin under Swiss financial regulation
Hdac Technology has announced plans to issue asset-backed stablecoin that comply with related financial regulations.
Stablecoin is a virtual currency designed to link with existing legal currency values such as dollars and euros, and its price remains constant. The stablecoin market is about $1.5 trillion as of December 2021, and the types of stable coins are divided into legal currency collateral type guaranteed by the issuing foundation, cryptographic asset collateral type, and algorithm-based issuance type. Stablecoin, which will be issued on Rizon blockchain, is a legal currency collateral type in a large framework and is guaranteed by the bank in accordance with regulations related to financial institutions, not by specific foundations.
Stablecoin linked to the dollar occupies a significant portion of the market capitalization as a key currency in the additional asset market, but in the case of Stablecoin issued on the market, there have been issues of reliability in the issuance foundation and opacity in reserves. Therefore, whenever there is a movement such as an investigation by the financial authorities, it acts as a risk to the additional asset market, and Hdac will start creating demand based on the high reliability of the asset-backed stable coin.
Hdac technology issued Stablecoin is guaranteed by Swiss Francs (CHF) and Euro (EURs) on its Tendermint-based hub-type blockchain RIZON, and each will be named as RCHF and REUR. RCHF and REUR each have values corresponding to 1 CHF and 1 EUR. Coins issued are guaranteed for related collateral deposits from the Swiss bank in Zurich.
Hdac technology’s blockchain mainnet RIZON, which has started issuing Stablecoin, not only guarantees asset backed Stablecoin such as RCHF and REUR based on high interoperability but also connects several blockchains through Inter-Blockchain Communication (IBC). Stablecoin, issued by Hdac technology, is expected to enter the coin market and actively influence the economy.
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