The deposits are not supervised by the regulator and they are not covered by the depositor protection regime. no licence requirement), to accept deposits from the public in an amount of up to CHF 1 million, regardless of the number of depositors. It allows for a company, without the prior approval or review by the regulator (i.e. The importance of the Swiss sandbox, is that it provides for an innovation space for fintech applications and their business models to be tested. Issuance of the X8 Stablecoin into the Swiss sandbox is a milestone for the X8 AG. He will feature at the upcoming Redeye Fintech Day Conference on October 20, 2021.

He has advised and carried out several fintech and crypto projects and is a regularly invited keynote speaker at global conferences. Mattia Rattaggi with 25-year experience in the financial industry, is considered an expert in digital finance and regulation. To assist with the introduction and issuance of the X8 Stablecoin, the Company has engaged METI Advisory AG as Lead Advisor and a big four Swiss legal practice to pursue the FinTech licence. X8 should have an innate capacity to be bought and sold against any or all of the 8 fiat currencies. This is a world’s first feature for any Stablecoin.

This way, X8 remains relevant and adjusted to the ever-changing competitive landscape between the 8 currencies resulting in what the Company believes to be optimal stability with minimal liquidity risk. The stability of X8 is managed by its proprietary algorithmic risk management process which is designed to monitor currency fluctuations and adjust the weighting of the currency portfolio backing the X8 Stablecoin. X8 will be fully backed by 8 currencies (USD, EUR, JPY, GBP, AUD, CAD, CHF, and NZD). The purpose and use of the X8 Stablecoin have been designed and developed from the ground up to be fully compliant with the regulatory environment in Switzerland.

Further, the Company has added key expertise to pursue a FinTech licence and provide leadership for organic corporate development.

18, 2021 (GLOBE NEWSWIRE) - X8 AG (“X8 or the Company”) announces that the Company will commence with the issuance of the X8 Global Stablecoin under the Swiss Sandbox regime and it is expected to be available Q1 2022.

Sand box x8