The pilot project for CHFD, a stablecoin denominated in Swiss francs, entered the practical testing phase. The number of participants in the initiative increased from 7 to 9.
Swiss financial market infrastructure operator SIX and digital payment service TWINT joined the initiative to test the Swiss franc stablecoin CHFD. Together with Switzerland’s largest banks, the companies will test various real-world use cases for the digital asset in a controlled environment.
In April 2026, UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank (ZKB), and Banque Cantonale Vaudoise (BCV) launched a joint financial sandbox to explore the potential of CHFD, a stablecoin based on the Swiss franc. The stablecoin has been technically operational in the sandbox since late June 2026. Testing is taking place on a platform operated by CHFD Infrastruktur AG, a subsidiary of Swiss Stablecoin AG.
Project participants will test:
- automated transactions between financial institutions;
- settlement of transactions involving tokenized digital assets;
- programmable payments designed to reduce fraud risks on online marketplaces;
- programmable payments designed to ensure fair access to event tickets;
- programmable government payments intended to improve the efficiency of fund distribution.
The trials are taking place in an environment that closely reflects real-world conditions, but with a limited number of participants and caps on transaction volumes. The testing phase will continue through the end of 2026.
Following the pilot project, participants plan to identify potential use cases for the CHFD stablecoin, the main barriers to its adoption, and the technical, operational, and regulatory requirements for the project’s further development. The results will be published after the trials are completed.
Starting in 2027, Switzerland will begin automatically exchanging crypto-asset data with regulators in 74 countries.
