Alprockz Partners with Geneva Swiss Bank to Create New Form of Money

The project has won support from one of the most forward-looking banks in Switzerland to create the most transparent and reliable stablecoin, backed by the Swiss franc.

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Stablecoins became the latest trending and hottest topic in today's cryptocurrency ecosystem. They are perceived as the answer to key issues faced by cryptocurrencies, i.e  their rampant volatility and high risk which inhibits them from realising their primary use case: a medium of exchange and store of value.

Stablecoins serve as a solid bridge between cryptocurrencies and the real economies, promoting global adoption of digital assets and blockchain technology.

Tether is the first and best known fiat-backed digital coin, but quite a few have emerged since its launch. Recent ones include the Gemini Dollar project by the Winklevoss twins and USDC from the Circle-Coinbase partnership. Unlike the rest of cryptocurrencies, successful stablecoins have no to little volatility and are meant to store and protect wealth as well as to become a cryptocurrency-based mean of payment.

However, this type of digital assets has its own flaws, which include lack of transparency, high level of centralization, and the risk of price manipulation. To address these issues, an international team of traders and investors with a strong background in traditional banking and finance has created ROCKZ - a digital asset backed by the Swiss franc, which is considered the most stable Fiat currency.

How ROCKZ works

ROCKZ aims to address cryptocurrency market volatility and allow users to store value and transact with digital assets in a stable, reliable way. Every ROCKZ is backed 1:1 by the equivalent amount in Swiss Francs, with up to 90% of the collateral held in physical banknotes and stored in high-security bunkers and vaults. The remaining 10% is deposited with several Swiss Banks in segregated accounts which the operating company behind ROCKZ can never access under a Swiss regulated fiduciary set-up. This structure ensures the highest level of liquidity, transparency and security, which means that ROCKZ holders will be able to claim their Swiss francs even if ROCKZ AG goes bankrupt.

Reserves in Swiss francs are confirmed on a monthly basis by an internationally recognized independent auditor. ROCKZ coin holders are notified of the audit results immediately.

Moreover, the company functions within the existing legal framework in full compliance with regulatory requirements. Recently, ROCKZ AG secured approval from the Financial Services Standards Association (VQF) to operate as a financial intermediary in Switzerland, and ROCKZ issuance and redemption is carried out according to Swiss regulations.

To ensure reliable banking services for ROCKZ users, the company has forged an alliance with Geneva Swiss Bank, an institution focused on private banking and value-driven financial partnerships.

The project team

ROCKZ is the brainchild of a team comprising bankers, cybersecurity experts, investors, and traders. Yassine Ben Hamida, the founder and CEO of the company, previously held key positions at UBS, Credit Suisse, and Julius Baer, specializing in banking financial services. Alexey Borichev, an expert in currency trading and interest rates, built an impressive career in banks such as ING and Promsvyazbank and worked as CFO at Novatek Gas & Power.

The advisory team includes globally renowned cybersecurity specialist Reza Hedayat, tech entrepreneur Tal Cohen, and financial risk specialist Niall Carton.

How to capitalize on a new stablecoin

For access to the ROCKZ platform and its services, users will need Alprockz (APZ) - a utility token designed to provide holders with premium and immutable benefits, including ROCKZ conversion into cash, issuance of bank cards, and the use of collateralized debt instruments.

There will be 175 million APZ minted during a one-time token generation event, with just 15% of the total supply distributed during a private and public sale. Nominal value of one APZ is 0.60 Swiss francs. Contributors can buy APZ using  ETH, BTC or CHF.

While contributors will be able to purchase APZ on secondary markets, tokens bought during the token sale will provide additional benefits and privileges, among them new features introduced on the platform.

To learn more about the project, visit the official website or subscribe for updates on Twitter and Telegram.

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