Switzerland's CHFD Stablecoin Sandbox Enters Live Testing as SIX and TWINT Join Nine-Member Consortium
Switzerland’s CHFD Stablecoin Sandbox Enters Live Testing as SIX and TWINT Join Nine-Member Consortium #
Switzerland’s CHF stablecoin sandbox has moved into active testing and added two new partners: financial market operator SIX and mobile payments provider TWINT, according to an announcement by UBS on September 8.
The initiative launched in April 2026 with six Swiss banks and now counts nine participants. The full consortium includes UBS, PostFinance, Raiffeisen, Zürcher Kantonalbank, Banque Cantonale Vaudoise, Sygnum, Swiss Stablecoin AG, SIX, and TWINT. The stablecoin at the center of the project, designated CHFD, has been technically live within the controlled sandbox environment since the end of June, pegged one-to-one with the Swiss franc.
SIX operates the Swiss Stock Exchange and provides critical post-trade infrastructure for Switzerland’s financial system. TWINT is Switzerland’s leading consumer mobile payment app, used for peer-to-peer transfers, online purchases, and retail transactions. According to the consortium’s announcement, both new entrants will contribute knowledge in their respective domains as the group explores how blockchain-based applications could integrate with a CHF stablecoin.
The sandbox platform is operated by CHFD Infrastruktur AG, a subsidiary of Swiss Stablecoin AG. Consortium members are testing use cases including automated settlement between financial institutions, tokenized asset transactions, and programmable payments. The project is also examining whether programmable payment logic could reduce fraud on online marketplaces, improve access equity for event ticketing, and streamline public-sector payment disbursements.
Organizers have stated that the test phase carries no pre-existing commitment to commercial deployment. The consortium aims to identify both the potential value a CHF stablecoin could create and the technical, operational, and regulatory requirements any future rollout would need to satisfy. Testing is expected to continue through the end of 2026, after which participants plan to publish a summary of their findings.
Other jurisdictions and financial institutions are running parallel stablecoin pilots in euros, dollars, and other currencies. SIX is a systemically important infrastructure provider in Switzerland, and TWINT holds broad consumer reach through its mobile payment network. Their participation extends the consortium’s scope to both wholesale settlement and retail payment scenarios.
Copy link