Swiss Franc Stablecoin Enters Testing
A Swiss banking initiative has launched live testing for a franc-pegged stablecoin, adding financial operator SIX and payment app TWINT as new partners. The sandbox tests aim to gather insights for the digital money ecosystem.
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UBS GROUP AG-REG and five partner banks have launched live testing for a Swiss franc-denominated stablecoin, adding market operator SIX and payment app TWINT. The project tests CHFD, a stablecoin designed to maintain a 1:1 peg to the national currency in Switzerland. The initiative aims to strengthen the competitiveness of the Swiss digital money ecosystem as lenders explore blockchain technology.
