TWINT is exploring plans to open its platform to digital currencies and identity solutions as part of efforts to support the country’s financial innovation and digital sovereignty.
With over six million users, TWINT is widely used for daily transactions, from in-store and online payments to peer-to-peer transfers.
The company now aims to enable providers of regulated digital currencies, such as Swiss franc-backed stablecoins or tokenised deposits, and developers working on Switzerland’s upcoming electronic ID (E-ID) to use its existing infrastructure.
“By starting the dialogue to open our platform for regulated and trusted digital assets like CHF stablecoins, tokenised deposits and the E-ID, we are contributing to the strengthening of Switzerland’s digital sovereignty in everyday life,”
said Markus Kilb, CEO of TWINT.
The move coincides with Switzerland’s broader efforts to advance digital finance and identity frameworks through the introduction of the E-ID and ongoing discussions around stablecoins.
TWINT intends to work with government bodies, regulators and industry participants to develop relevant use cases, ensuring consumers and merchants benefit from trusted and regulated solutions.
Users will retain the option to choose which services they access through the app.
Featured image credit: TWINT
