UBS Says Swiss Franc Stablecoin Sandbox Enters Testing Phase

UBS said the Swiss franc stablecoin sandbox has entered the testing phase and added infrastructure operator SIX and payments company TWINT as participants. According to Foresight News, the sandbox is designed to test specific use cases for a Swiss franc stablecoin in a controlled digital environment with safeguards such as participant limits and amount caps. The testing is based on the Swiss franc digital stablecoin CHFD, and the platform is operated by CHFD Infrastruktur AG, a subsidiary of Swiss Stablecoin AG. Existing participants include UBS, PostFinance, Sygnum, Raiffeisen, Zurich Cantonal Bank, BCV, and Swiss Stablecoin AG. The announcement said the arrangement is an experiment and does not constitute a decision to issue a Swiss franc stablecoin in the future.