CHFD Stablecoin Enters Testing Phase with Nine Swiss Institutions

The CHFD stablecoin has entered its formal testing phase after Swiss financial market operator SIX and payments provider TWINT joined seven existing participants in a controlled initiative.

Nine institutions are now involved, including major banks UBS, PostFinance, Sygnum, Raiffeisen, Zurich Cantonal Bank, Banque Cantonale Vaudoise, SIX, TWINT, and Swiss Stablecoin AG. The CHFD stablecoin is designed to maintain a one-to-one value against the Swiss franc.

The testing phase will cover institutional automation, tokenized asset settlement, and programmable payments for several practical scenarios jointly.