Swiss Franc Stablecoin CHFD Enters Sandbox Testing with Big Bank Backing
A consortium of nine Swiss financial institutions and project company Swiss Stablecoin AG has launched the CHFD stablecoin into coordinated sandbox testing. The token is pegged 1:1 to the Swiss franc and is being tested for programmable payments that could release funds only after predetermined conditions are met.
The technical backbone is provided by CHFD Infrastruktur AG, a subsidiary of Swiss Stablecoin AG. The consortium is running coordinated tests across three use cases: automated interbank transactions, tokenised asset settlement with synchronised payment delivery, and programmable payments for e-commerce, event ticketing, and public-sector disbursements.
The addition of SIX and TWINT to the group brings existing digital-asset infrastructure and consumer layer interest to the project. SIX operates the Swiss Stock Exchange and post-trade infrastructure, while TWINT is Switzerland's dominant mobile-payments app.
The consortium launched in April 2026 with six members: UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, and Banque Cantonale Vaudoise. The tests will run through the end of 2026.