Swiss stablecoin sandbox enters testing phase, adds two new partners

Financial market operator SIX and payment app TWINT have joined numerous banks in the sandbox seeking to develop a Swiss franc-based stablecoin.

Nine Swiss companies have begun sandbox tests of CHFD, a Swiss franc stablecoin, for programmable payments and digital asset settlement.

The pilot will examine whether programmable payments can reduce fraud on online marketplaces, support fair access to event tickets and make public payments more efficient, according to a Tuesday press release shared with Cointelegraph.

Financial market operator SIX and payment app TWINT are new participants in the initiative, which launched in April.

Related: Citi, DBS complete first weekend tokenized cross-border deposit on Swift

• Switzerland
• Stablecoin
• Banks
• Sandbox
• Swiss Franc
• Industry