Swiss Foundation Gets $30mln To Start ‘Non-Volatile’ Cryptocurrency

Swiss Foundation Gets $30mln To Start ‘Non-Volatile’ Cryptocurrency

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The group of financiers will create a “free global currency” subject to random identity checks and is tied to the fiat, the Financial Times reported on March 22.

Chairman of the JPMorgan Chase International and former Governor of the Bank of Israel Jacob Frenkel, discussing the plans of the saga, in which the Swiss fund and advice from various banking indicators will be presented, said that there is an appetite for an understandable non-volatile cryptocurrency.

The fund has already invested $ 30 million in investments, and plans to issue $ 0 initial price tokens, which “give their investors a growing number of saga, as the use of crypto currency is growing.”

“While Blockchain technologies have gained increasing recognition, cryptocurrencies have raised public policy problems because they are anonymous, unreliable and very unstable,” Frenkel said in the publication.

“I share these problems and see great value in the vision of the saga to handle them properly.”

This step, apparently, is a new recognition of the merits of cryptocurrency technology for the release and support of new world currencies from the banking sector against the backdrop of the ongoing trend. Nevertheless, the organizers are at the forefront of the relatively strictly controlled nature of all aspects of the Saga’s time scale.

Purchasing tokens “will require owners to skip checks on money laundering and allow national authorities to verify the identity of the saga holder when necessary,” providing zero anonymity.

“We do not seek to replace the Saga with any national currency, but become an additional global currency,” continued the founder of the saga and President Ido Sadeh Man.

“We focus on people who hold digital currencies and are looking for safe havens from the raging volatility.”

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