Key facts
- A Swiss initiative developing a Swiss franc-denominated stablecoin has entered a live testing phase.
- Financial market operator SIX and payment app TWINT have joined the project as new partners.
- Nine Swiss companies are participating in the sandbox tests.
- The tests are based on CHFD, a Swiss franc stablecoin designed to maintain a 1:1 peg.
- The initiative aims to explore programmable payments and digital asset settlement.
A Swiss industry initiative focused on developing a Swiss franc-denominated stablecoin has advanced to its live testing phase. Financial market operator SIX and payment app TWINT have joined the project as new partners, contributing expertise in financial market infrastructure and digital payment solutions, respectively. The initiative, which began in April, now includes nine Swiss companies exploring the potential of blockchain applications connected to a CHF stablecoin. The tests are centered around CHFD, a stablecoin technically live since late June, engineered to maintain a 1:1 peg with the Swiss franc. According to a press release, the pilot aims to assess whether programmable payments can enhance online marketplace security, ensure equitable access to event tickets, and improve the efficiency of public payments. The broader goal is to gather insights for advancing Switzerland's digital money ecosystem and bolstering the competitiveness of its financial center.