Swiss Banks Join Forces to Test Franc Stablecoin in Sandbox

Swiss banks have come together to create a sandbox for testing a franc stablecoin in a controlled environment. The six-partner initiative, led by UBS, aims to develop use cases for the Swiss franc (CHF) stablecoin and build new digital payment capabilities.

The coalition includes UBS, PostFinance, Sygnum, Raiffeisen, Zurcher Kantonalbank, and BCV, as well as stablecoin company Swiss Stablecoin AG. The project has several goals, including developing a Swiss ecosystem for digital money and gaining practical insights into the potential benefits of stablecoins.

The sandbox will allow banks and participating companies to test new digital financial products in realistic conditions without causing real harm. The initiative is open to other interested banks, companies, and institutions.