Six major Swiss banks have begun testing a stablecoin linked to the Swiss franc (CHF) with Swiss Stablecoin AG, CoinDesk reported on Tuesday.
UBS, PostFinance, Sygnum, Raiffeisen, Zurich Cantonal Bank and BCV set up a sandbox with Swiss Stablecoin AG. The test will run through 2026 and allows banks and institutions to trial real transactions in a controlled environment.
The project is designed to simulate real payment flows while managing risk by limiting user numbers and transaction volumes. It focuses on testing payment processes and exploring how programmable money can support financial services.
Switzerland does not yet have a widely used regulated Swiss franc stablecoin. The participating banks plan to verify whether a CHF stablecoin can support payments, improve settlement speed and connect blockchain-based applications with traditional finance.
A consortium involving 12 major banks, including BBVA, ING and UniCredit, plans to launch the digital euro Qivalis in the second half of 2026. The consortium aims for Qivalis to provide an alternative to dollar stablecoins such as Tether's USDT and Circle's USDC.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr