Swiss Stablecoin Initiative Enters Live Testing Phase With SIX and TWINT On Board
A Swiss industry initiative has entered the live testing phase for its CHFD stablecoin, which is pegged to the Swiss franc. The project, aimed at developing a Swiss franc-denominated stablecoin, has gained momentum with the addition of SIX and TWINT as new partners.
CHFD has been technically live in a sandbox environment since late June 2024, but now moves into a more comprehensive testing phase with broader institutional support. SIX brings regulated settlement capabilities and experience with tokenized assets to the project, while TWINT joins as a partner highlighting its push to integrate the stablecoin into everyday digital payment use cases.
The live testing phase began on September 8, marking an important milestone for the CHFD stablecoin initiative. The development of a Swiss franc-denominated stablecoin is significant for the finance sector and could potentially increase adoption of digital currencies in Switzerland.