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Centi Makes World Record with Its Fast, Secure Stablecoin Tech on Public Blockchain at Finovate Europe 2024 in London

LONDON, Feb. 28, 2024 /PRNewswire/ — In an unprecedented display at Finovate London, Centi AG has set a new world record by processing over 1 million micropayments within just 24 hours, with each payment valued at precisely 1 cent, utilizing their proprietary stablecoin tokens on a public blockchain. This milestone not only demonstrates near-zero transaction costs but also the superior speed and scalability of Centi’s innovative technology, firmly establishing their leadership in the micropayment domain.

Revolutionizing Micropayments with Secure Stablecoin Tokens:

  • Instantaneous, Ultra-Affordable Transactions: Our state-of-the-art platform ensures seamless, instant transactions for any amount, paving the way for broad financial applications across banking, fintech, and more.
  • Unparalleled Security and Regulatory Compliance: With each stablecoin token backed by a Swiss bank guarantee and valued at 1 cent, Centi offers unparalleled security and compliance, ideal for blockchain adoption within regulatory frameworks.
  • Scaling to Unprecedented Heights: Aimed at significant growth, Centi is on track to process an astounding 20 million transactions daily within 2024, expanding into the realm of sub-penny transactions and supporting the European Central Bank’s goals for financial inclusivity through micropayments.

Bernhard Müller, Founder and CEO of Centi AG said, “Centi’s showcase at Finovate London signifies our deep commitment to transforming the payments landscape. Our technology sets new industry standards in terms of speed, cost-efficiency, and security, heralding a new era of accessible, inclusive financial transactions.”

Beyond the Hype:

Centi’s pioneering technology features:

  • Median processing time below 3 seconds: Our technology matches the convenience of contactless payments and significantly outperforms the “instant payments” currently offered by banks, which typically take around 10 seconds.
  • Cost-Effective Revolution: Our approach dramatically reduces costs compared to conventional methods, including:
    • Cards and card-based networks would charge over $100,000 for 1 million transactions.
    • Ethereum blockchain (without Layer 2 solution): $3 million for 1 million transactions.
    • A cost-effective Layer 2  solution on Ethereum: $13,000 for 1 million transactions.

Join the Micropayment Movement:

Centi warmly invites banks, fintechs, and other innovative entities to discover the transformative power of our white-label stablecoin solutions and to collaborate in shaping the future of finance.

https://centi.chhttps://centi.business │ https://centi.app

About Centi:

Centi leverages blockchain technology to provide innovative, accessible, and efficient financial solutions. Centi focuses on micropayments and financial inclusivity directly addresses the shortcomings of the current financial system, establishing Centi as pioneers in the practical application of blockchain technology.

SOURCE Centi

Originally published at https://www.prnewswire.com/news-releases/centi-makes-world-record-with-its-fast-secure-stablecoin-tech-on-public-blockchain-at-finovate-europe-2024-in-london-302074101.html
Images courtesy of https://pixabay.com

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