SIX and TWINT have joined Switzerland’s CHF stablecoin initiative. The initiative launched in April 2026 and now has nine partners.

The new partners add expertise in financial market infrastructure and digital payment solutions.

Testing is now underway. The nine partners are jointly exploring how blockchain applications could connect with a CHF stablecoin.

The goal is to gain insights that support Switzerland’s digital-money ecosystem. These insights should also strengthen the competitiveness of the Swiss financial centre.

The tests centre on CHFD, a stablecoin pegged 1:1 to the Swiss franc. CHFD has been technically live within the sandbox since the end of June.

The CHF stablecoin platform is operated by CHFD Infrastruktur AG, a subsidiary of Swiss Stablecoin AG.

Sandbox use cases are tested on this platform.

Beyond use cases already established internationally, such as automated transactions between financial institutions and tokenised settlement of digital assets, the partners are focusing on programmable payments.

The initiative also explores whether and how programmable payments could reduce fraud risk on online marketplaces, support fairer access to event tickets, and make public-sector payouts more efficient.

The test phase is designed with an open outcome and is expected to run until the end of 2026.

The focus is on where a CHF stablecoin could create value, what challenges exist, and which conditions would need to be met for possible further development.

Once the initiative concludes, the sandbox will provide an overview of the results.

Featured image credit: Edited by Fintech News Switzerland, based on image by revengestudio via Magnific