Swiss CHFD Stablecoin Begins Live Testing With New Partners

The Swiss CHFD stablecoin has entered live testing with new partners, according to Reuters. The project, which aims to maintain a 1:1 peg to the Swiss franc, has been technically available in a sandbox since late June.

Financial market operator SIX and payments app TWINT have joined UBS, PostFinance, Sygnum, Raiffeisen, ZKB, and BCV as partners in the initiative. The testing phase is intended to generate insights for the further development of Switzerland's digital money ecosystem and support the competitiveness of its financial centre.

The project's next milestone will be the outcome of these live tests, which are focused on assessing potential uses for CHFD rather than announcing a commercial launch.