ACHF
AEUR
Company
ACHF IS A 1:1 CHF-BACKED STABLECOIN
ACHF is a game-changing stablecoin backed on a 1:1 basis by Swiss Francs (CHF). Designed to mitigate the volatility typically associated with cryptocurrencies and provide unparalleled stability, ACHF offers a secure and reliable digital asset for the modern financial landscape.
EXPERIENCE STABILITY AND RELIABILITY IN DIGITAL FINANCE
ACHF provides stability and reliability in the rapidly evolving digital finance ecosystem. This innovative stablecoin opens new possibilities for financial transactions, merging traditional and blockchain-based systems.
Build With ACHF on Multiple Chains
ACHF is available on Ethereum and BNB Chain with plans to expand support to a growing list of blockchains in the future.
ACHF Token Overview
CURRENT SUPPLY
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ACHF in circulation
IN RESERVES
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CHF in bank(s)
Frequently Asked Questions
Q1
What is ACHF and how does it work?
ACHF is a CHF-backed stablecoin issued natively on the Ethereum and BNB Chain. Each ACHF is backed 1:1 by Swiss Franc held in the appointed reserve bank.
Q2
How can I get started with ACHF?
To initiate using ACHF, you can create an account on one of our supported exchanges to purchase or trade. Alternatively, you can verify your identity to become our client and deposit Swiss Francs into the designated bank account we provide. Subsequently, you will receive an equivalent amount of ACHF.
Q3
How can I redeem ACHF?
To redeem or sell ACHF for Swiss Franc, you can effortlessly trade on secondary markets such as centralized/decentralized exchanges or dApps which support ACHF. For sizable redemptions, please get in touch with our team at email: info@anchoredcoins.com. Additionally, you can directly redeem through our platform if you are an existing client.
Q4
How many blockchains does ACHF run on?
ACHF is currently issued on Ethereum and BNB Smart Chain blockchains, with more integrations soon.
GET STARTED WITH ACHF
Fill out the form to connect with Anchored Coins Team.
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Gartenstrass 6, 6300 Zug, Switzerland
CHE - 434.703.403
Proud member of VQF self regulatory organization
CHE - 434.703.403
Proud member of VQF self regulatory organization
© 2023 Anchored Coins AG. All rights reserved.
Dear Clients of Anchored Coins AG and Holders of AEUR stablecoins,
We are writing to inform you about a recent development concerning one of the financial institutions Anchored Coins AG works with to guarantee the issued AEUR stablecoins.
On 13 June 2024, the Swiss Financial Market Supervisory Authority FINMA (FINMA) opened bankruptcy proceedings against FlowBank SA in liquidation (https://www.flowbank.com/). The detailed information about the opened bankruptcy proceedings is available on the official website of FINMA (https://www.finma.ch/en/news/2024/06/20240613-mm-flowbank/).
FlowBank SA in liquidation is one of the Swiss banking partners engaged by Anchored Coins AG to guarantee redemption claims of the AEUR stablecoin holders. Such bank guarantee is required in case of the default of Anchored Coins AG itself. To back the guarantee, Anchored Coins AG allocated a part of its reserve as collateral to accounts held with FlowBank SA in liquidation.
While according to our current information the bank guarantee issued by FlowBank SA in liquidation has not been terminated, the collateral held by FlowBank SA in liquidation falls according to our preliminary findings into the bankruptcy estate without any privilege.
As per standard bankruptcy proceeding, all funds falling into the bankruptcy estate remain with the bankruptcy estate of FlowBank SA in liquidation until the appointed liquidator makes a decision to distribute privileged deposits and the bankruptcy dividends to the creditors.
At this moment we are working closely with the authorities and the liquidator in order to expedite the withdrawal of the collateral from FlowBank SA in liquidation and transferring it to our other banking partners as soon as possible.
While we await clarity regarding the expedited withdrawal of funds from FlowBank SA in liquidation as well as exploring all other options, the onboarding of new clients, the issuance and redemptions of AEUR and ACHF are on hold until further notice as ordered by the authorities.
Please note that the following safeguarding measures are implemented to protect token holders as much as possible under the current circumstances:
- Continued 1:1 Redemption Right: The AEUR tokens in general continue to each represent a claim of 1 EUR against Anchored Coins AG. The bank guarantee is merely a safeguard in case of a default of Anchored Coins AG itself. This means that each AEUR continues to be pegged 1:1 to the Euro and represents a full claim against Anchored Coins AG.
- Collateral Diversification: We have diversified our banking relationships and also maintain a bank guarantee with another Swiss reputable financial institution - Swissquote Bank SA (https://www.swissquote.com/).
- Regulatory Compliance: We are working closely with regulatory authorities and legal professionals to monitor the situation at Flowbank SA in liquidation and to ensure all necessary steps are taken in accordance with the applicable laws and regulations.
- Ongoing Operations: We continue to maintain a strong financial position and our commitment to delivering value to our clients and AEUR holders remains relentless.
However, please note that as the bankruptcy proceedings concerning FlowBank SA in liquidation are still in an early phase, it is not yet clear to which extent this part of our collateral can be recovered. Hence, a risk remains that in case of a shortfall, the 1:1 redeemability cannot be upheld which would lead to a respective loss for the holders of AEUR tokens. In line with the equal treatment of creditors as required by Swiss law, such loss would be applied proportionally to all AEUR token holders.
Next Steps:
- We continue our efforts to expedite the transfer of the collateral from FlowBank SA in liquidation as well as pursuing all other options.
- Our team is available to address any questions or concerns you may have.
- We will provide timely updates as more information becomes available.
We deeply value your trust and confidence in our company. Please rest assured that we are handling this situation with the utmost care and diligence to protect your interests.
If you have any immediate questions or require further information, please do not hesitate to contact us by sending an email to info@anchoredcoins.com.
Thank you for your continued support.
Sincerely,
Anchored Coins Team