Copenhagen-based fintech company ARYZE has unveiled the first of its suite of digital currency assets, ARYZE Digital Cash, on European digital assets exchange Switchere.
The launch offers a glimpse into the future of full reserve banking based digitized cash, with ARYZE eEUR now available for purchase on the trusted exchange. ARYZE’s stablecoin series offers a stable and trustworthy alternative to traditional digital assets.
Stablecoins are a significant and controversial asset class within the crypto ecosystem, and yet are not necessarily promoting the very stability that their name would imply. ARYZE has recently launched a basket of alternative assets which are based upon the concept and the reality of full reserve banking. Issued by ARYZE (BVI) Ltd, ARYZE Digital Cash eEUR, and other variants such as eUSD and eGBP, are 100% asset-backed with zero leverage.
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CFO Morten Nielsen explains that ”ARYZE Digital Cash has its roots in the history of modern economics adhering as it does to the so-called Chicago Plan of 1939. You could say that at ARYZE we are going “back to the future” in heralding a new digital asset class which underpins the separation of the monetary and credit functions inherent in the traditional banking system. Unlike other digital assets, we require 100% reserve backing for our assets. This makes our programmable money concept unique, fully solvent, and completely trustworthy.”
Issued by ARYZE (BVI) Ltd, ARYZE Digital Cash will provide individuals and businesses with a means of exchange as instantly available and transferable as any mainstream crypto asset, with the stability of a government backed digital currency and none of the issues of surveillance and acceptance that accompany a so-called Central Bank Digital Currency (CBDC).
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Coinciding with the launch of ARYZE Digital Cash, the business is also unveiling MAMA DeFi, a decentralized, self-custody exchange where users can buy, trade, and use Digital Cash. In addition, ARYZE is now in public beta with reForge, a unique cross chain protocol that enables the transfer of Digital Cash between different blockchains and the conversion between different variants of Digital Cash.