Zug-based fintech Safirum has launched CHF-S, a Swiss franc stablecoin, on the Solana blockchain.
The token, first announced in June 2026, targets retail and institutional users.
Swiss francs back each token one-to-one. Safirum keeps these reserves in segregated accounts at Berner Kantonalbank (BEKB) and Banque Richelieu. It also plans to add more custodian banks.
To mint new tokens, institutional investors must pass compliance checks and transfer the equivalent funds.
Meanwhile, retail users can access CHF-S through integrated partners or decentralised exchanges after whitelisting their wallets.
To comply with Swiss rules, including FINMA Guidance 06/2024, every user must first verify their identity.
Individuals complete a know-your-customer (KYC) check, and companies a know-your-business (KYB) check.
After that, the token’s smart contract whitelists each verified wallet. As a result, the contract automatically blocks transfers to unverified wallets.
Safirum said it chose Solana’s Token-2022 standard for its speed, scalability and low transaction costs.
It sees possible uses in cross-border business payments, treasury management, crypto exchange settlement and tokenised asset payments.
Unlike issuers that depend on reserve returns, Safirum relies mainly on transaction fees. Each transfer costs 0.05% of the amount, up to 0.50 CHF-S, plus network fees.
Maverix Securities, which has worked with Safirum from the start, was the first company to mint CHF-S.
“This lays the foundation for new applications, particularly for our clients and the management of digital assets within our AMCs,”
said Giuliano Glocker, Founder and Co-CEO at Maverix.
“We do not see identity verification and whitelisting as obstacles, but as important prerequisites for the widespread use of stablecoins,”
said Bastien Thiébaud, Co-founder and CEO at Safirum.
Featured image: Edited by Fintech News Switzerland, based on image by Safirum via its Press Release and toia via Magnific.
