UBS and Partners Launch Testing Phase for Swiss Franc-Denominated Stablecoin

Swiss Stablecoin AG has launched its Swiss franc-denominated stablecoin CHFD into a testing phase in collaboration with SIX and TWINT, two major players in the country's financial sector.

The project aims to develop a new payment system that would enable automated transactions between financial institutions and facilitate digital asset payments using tokens. The test will focus on 'programmable payments', which allow pre-set conditions for executing payments.

UBS, PostFinance, Sygnum, Raiffeisen, ZKB, BCV, and SIX are participating in the project, with TWINT joining as a new partner. The testing phase is expected to continue until the end of 2026.