Swiss Stablecoin Project Enters Live Testing Phase with Nine Participating Companies
The Swiss Franc stablecoin project has entered its live testing phase in Switzerland. Nine companies are now participating in a controlled sandbox environment to test CHFD, a Swiss Franc-denominated stablecoin. The project is led by UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, BCV, SIX, TWINT, and Swiss Stablecoin AG.
The tests will examine the potential benefits of programmable payments in reducing fraud on online marketplaces, improving access to event tickets, and making public-sector payments more efficient. The project began in April 2026 with CHFD technically operating inside the sandbox since late June 2026.
The testing phase is expected to run through the end of 2026, allowing participants to assess the technical, operational, and regulatory requirements for a Swiss Franc stablecoin. This move comes as banks and financial infrastructure providers globally explore stablecoins as a potential settlement and payments layer.