Swiss Financial Firms Test CHFD Stablecoin in Controlled Sandbox

Nine Swiss financial companies have begun testing use cases for the CHFD stablecoin in a controlled live sandbox. The test phase, which started on September 8 and is expected to run through the end of 2026, aims to examine how blockchain-based money could connect with financial-market infrastructure and digital payments.

The participants are UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, BCV, SIX, TWINT, and Swiss Stablecoin AG. The tests use CHFD, a digital asset designed to maintain a one-to-one peg with the Swiss franc, which has been technically live inside the sandbox since the end of June.

The program covers automated transactions between financial institutions and the tokenized settlement of digital assets, as well as programmable-payment applications. SIX contributes financial-market-infrastructure expertise, while TWINT adds experience in digital payments.