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PRESS RELEASE: Centi Establishes World Record with Over One Million Micropayments in 24 Hours

PRESS RELEASE: Centi Establishes World Record with Over One Million Micropayments in 24 Hours

London, UK, February 27, 2024 – Centi Ltd has achieved a groundbreaking milestone at FinovateEurope by processing over one million micropayments in just 24 hours, with each transaction amounting to precisely one cent. Utilizing stablecoin tokens on a public blockchain, Centi has demonstrated unparalleled capability in transaction speed and cost-efficiency.

Setting New Industry Benchmarks:

  • Rapid Processing: Centi’s technology ensures median processing times fall below three seconds equalling the convenience of contactless credit card payments and outperforming the “instant payments” banks are offering.
  • Cost-Effective Breakthrough: The sum of just $5 covered transaction fees for processing over one million transactions, in stark contrast to traditional credit card networks which could incur over $100,000 for the same volume, or the Ethereum blockchain which might cost around $3 million.
  • Scalable Growth: With a vision to expand transaction processing capabilities to an impressive 20 million transactions daily by 2024, including sub-penny transaction capabilities, Centi is propelling the industry towards efficient micropayments and financial inclusivity, in line with the European Central Bank’s objectives.

Revolutionizing Micropayments with Secure Stablecoin Tokens:

Centi’s platform is engineered to support seamless, instant transactions of any size, providing an extensive range of financial applications that span across banking, fintech, and beyond. Each stablecoin token, backed by a Swiss bank guarantee and valued at 1 cent, exemplifies Centi’s commitment to security and adherence to regulatory standards.

Founder’s Vision:

Bernhard Müller, the Founder and CEO of Centi AG, affirms, “Our showcase at FinovateEurope is not merely a display of technological prowess but a testament to our dedication to redefining the payments landscape. We are setting new precedents for speed, cost-efficiency, and security, thereby heralding an era of universally accessible and inclusive financial transactions.”

Contact:

For collaboration inquiries and more information on our white-label stablecoin solutions, please contact Bernhard Müller

bernhard@centi.ch

https://centi.ch │ https://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.

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