A Swiss industry initiative developing CHFD, a Swiss franc-denominated stablecoin, has entered a live testing phase, Reuters reported on September 8. The project also added financial market operator SIX and payments app TWINT as new partners, while CHFD has been technically live in a sandbox since late June and is designed to maintain a 1:1 peg to the Swiss franc.
The initiative initially brought together UBS, PostFinance, Sygnum, Raiffeisen, ZKB and BCV to test potential uses for a franc-pegged stablecoin in Switzerland. SIX and TWINT now expand that group as the project moves from technical sandbox availability into broader testing, adding financial-market and payments infrastructure participation.
The testing phase is intended to generate insights for the further development of Switzerland’s digital money ecosystem and support the competitiveness of its financial centre. The next milestone is the outcome of these live tests, with the project focused on assessing potential uses for CHFD rather than announcing a commercial launch.
Source: Reuters.
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