Switzerland's Stablecoin Initiative Gains Momentum with SIX and TWINT Onboard
SIX and TWINT have joined Switzerland's CHF stablecoin initiative, which launched in April this year. The new partners add expertise in financial market infrastructure and digital payment solutions to the nine existing partners.
The testing phase is now underway, with a focus on exploring how blockchain applications could connect with a CHF stablecoin. The goal is to gain insights that support Switzerland's digital-money ecosystem and strengthen the competitiveness of the Swiss financial centre.
The tests centre on CHFD, a stablecoin pegged 1:1 to the Swiss franc, which has been technically live within the sandbox since the end of June. Beyond established use cases like automated transactions between financial institutions and tokenised settlement of digital assets, the partners are focusing on programmable payments.
The initiative also explores whether and how programmable payments could reduce fraud risk on online marketplaces, support fairer access to event tickets, and make public-sector payouts more efficient. The test phase is designed with an open outcome and is expected to run until the end of 2026.