According to an AMB Crypto report, Swiss-based Blockchain Company Alprockz has partnered with Swiss banks to offer financial services by issuing ROCKZ stablecoin.
The new technical and financial tool will be powered by Ethereum blockchain based platform. The platform will enable the users to use stablecoin for fast and economic monetary transfer all over the world. The founder of ROCKZ, Yassine Ben Hamida said that the new stablecoin is designed to resolve the problems of the crypto sphere. As the problems with cryptocurrencies are its use cases and its ability to contribute to the real economy. The new stablecoin will converse the cryptos into reliable and stable funds in real time. Satblecoin will also open up limitless opportunities to switch to a new base currency.
ROCKZ is far more stable than other cryptocurrencies because it is backed by the national currency Swiss Franc. Alprockz AG which is issuing ROCKZ (RKZ) is going to store 90% of its reserve funds in Swiss Franc (CHF) banknotes in high-security Swiss bank storages. Remaining 10% will be placed in various Swiss banks to ensure the liquidity of the coin. ROCKZ is fully compliant with national and international legislation; it will encourage the users to use the currency without any fear of losing. For ROCKZ auditing and monitoring will be conducted on monthly basis. ROCKZ is designed to form a reliable bridge between digital assets and traditional economy. The main difference between ROCKZ and other cryptocurrencies is the transparency of financial reserves. Other than general additional income, the financial reserve of the ROCKZ cannot be used or invested by the company. The transparency of financial reserves of ROCKZ eliminates the risk of counterparty default. In cryptocurrencies, the investors have the fear to lose their money which pushes the investors on the sidelines.
Monthly auditing and monitoring, increased liquidity, increased security, and regulatory compliances are the things which are offered by ROCKZ, not by other cryptocurrencies. The users of the ROCKZ have to pass with a standard KYC process. Developers of ROCKZ believe that very soon the new fintech service will be in demand for niches such as E-commerce, banking, money transfer, and investment.