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Finance

Swiss stablecoin project enters testing phase, adds SIX and TWINT as partners

Published by Global Banking & Finance Review

Posted on September 8, 2026

2 min read

· Last updated: September 8, 2026

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Swiss Stablecoin Project Begins Testing Phase, Adds SIX and TWINT as Partners

Swiss Franc Stablecoin Initiative Enters Live Testing

Introduction of New Partners

ZURICH, Sept 8 (Reuters) - A Swiss industry initiative developing a Swiss franc-denominated stablecoin has entered a live testing phase and added financial market operator SIX and payment app TWINT as new partners, Swiss bank UBS said on Tuesday.

Details of the CHFD Stablecoin

The tests are based on CHFD, a Swiss franc stablecoin that has been technically live in the sandbox since late June and is designed to maintain a 1:1 peg to the Swiss franc.

Objectives of the Project

The scheme aims to generate insights for the further development of the Swiss digital money ecosystem and to strengthen the competitiveness of Switzerland's financial centre, the bank said in a statement.

Background and Industry Collaboration

Initial Partners and Purpose

UBS, PostFinance, Sygnum, Raiffeisen, ZKB and BCV initially joined forces in April to test potential uses for a franc-pegged stablecoin in Switzerland, as banks grapple with the growing stablecoin industry and wider growth of cryptocurrencies.

Stablecoins in the Financial Sector

Definition and Industry Impact

A type of cryptocurrency designed to maintain a constant value and backed by traditional currencies, stablecoins are seen by some lenders as potential competitors, pressuring them to find uses for blockchain technology within their own businesses.

Reporting Credits

(Reporting by Maria Rugamer in Gdansk and Ariane Luthi in Zurich, editing by Milla Nissi-Prussak and Dave Graham)

Key Takeaways

  • CHFD stablecoin entered live sandbox testing in late June 2026 and is pegged 1:1 to the Swiss franc
  • New partners SIX and TWINT bring expertise in market infrastructure and digital payments, expanding the initiative to nine Swiss firms
  • Sandbox testing focuses on programmable payment use cases and will run through end‑2026 to gather technical, operational and regulatory insights

Frequently Asked Questions

What is the Swiss stablecoin project?
It is an initiative developing a Swiss franc-denominated stablecoin, CHFD, designed to maintain a 1:1 peg to the Swiss franc.
Which new partners have joined the Swiss stablecoin project?
Financial market operator SIX and payment app TWINT have joined as new partners in the project's testing phase.
What is the goal of the Swiss stablecoin CHFD?
The project aims to generate insights for the development of the Swiss digital money ecosystem and strengthen Switzerland's financial centre.
Which banks were part of the initial Swiss stablecoin initiative?
UBS, PostFinance, Sygnum, Raiffeisen, ZKB, and BCV were the initial partners testing the stablecoin’s uses.

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