Leading financial institutions in Switzerland announced the launch of a pilot platform to test a stablecoin pegged to the Swiss franc. The project aims to advance digital payments and strengthen the country’s financial system.
UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank (ZKB), Banque Cantonale Vaudoise (BCV), and Swiss Stablecoin AG joined forces to create a financial sandbox, a controlled environment where use cases for a Swiss franc-pegged stablecoin will be tested. Currently, Switzerland doesn’t have a regulated stablecoin with broad adoption, which became a key driver behind this initiative.
The project involves testing various applications of the stablecoin, whose value will be strictly pegged to the national currency at a 1:1 ratio. Swiss Stablecoin AG will provide the technical infrastructure for issuing the digital asset. The trials are scheduled to run throughout 2026.
Participants in the initiative set several goals, including:
- building a comprehensive digital money ecosystem in Switzerland;
- developing expertise in digital payments;
- gaining practical experience with new financial instruments.
Special emphasis is being placed on improving operational efficiency and creating tangible benefits for customers.
The testing environment will include limits on the number of participants and transaction volumes, helping to reduce risks while still allowing solutions to be tested under near real-world conditions. At the same time, the project remains open to additional banks, companies, and organizations interested in developing a Swiss franc-pegged stablecoin.
According to the Swiss National Bank (SNB), all financial institutions in the country are expected to support instant euro payments by the end of 2026.
