ZCHF is a decentralized stablecoin that is designed to track the value of the Swiss franc (CHF). Unlike popular stablecoins like USDT or USDC that are pegged to the US dollar, ZCHF is pegged 1:1 to Switzerland’s currency.

It is issued by the Frankencoin protocol and operates on blockchain infrastructure, which means it doesn’t rely on traditional banks in the same way centralised stablecoins do. Instead, it uses a system of collateral and smart contracts to maintain its value.

Why People Are Talking About It

Interest in ZCHF has increased after Vitalik Buterin recently swapped a significant amount of USDC into ZCHF. Moves like this bring attention to the idea that DeFi may not stay centered only around the US dollar.