UBS has launched a test of the Swiss franc stablecoin in collaboration with multiple Swiss institutions, with the CHFD stablecoin now live for trial operation.
1 hours ago
Swiss bank UBS announced that together with eight other institutions—PostFinance, Sygnum, Raiffeisen, Zurich Cantonal Bank, BCV, SIX, TWINT, and Swiss Stablecoin AG—a total of nine entities have launched the Sandbox testing phase for the Swiss franc stablecoin, exploring the integration of blockchain applications with such stablecoins. The test is based on the CHFD Swiss franc stablecoin, which has been technically deployed in the Sandbox environment since the end of June and is pegged 1:1 to the Swiss franc. It will focus on use cases including automated inter-institutional financial transactions, digital asset tokenization settlement, and programmable payments, covering applications such as reducing online marketplace fraud risks, improving fair access to event tickets, and enhancing the efficiency of public fund disbursement. The test is expected to run through the end of 2026. UBS stated that the Sandbox aims to accumulate technical, operational, and regulatory experience, and does not represent a decision to officially launch the Swiss franc stablecoin.
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