CHFD stablecoin enters testing with 9 Swiss institutions

The CHFD stablecoin entered its formal testing phase on Sept. 8 after Swiss financial market operator SIX and payments provider TWINT joined seven existing participants in the controlled initiative. Summary Nine Swiss institutions are testing CHFD after SIX and TWINT joined the existing sandbox initiative. CHFD has operated inside the controlled sandbox since late June with transaction limits applied throughout. Tests cover institutional automation, tokenized asset settlement and programmable payments for several practical scenarios jointly. One CHFD is designed to equal one Swiss franc during the experimental testing phase only. Partners expect testing to continue through 2026 before publishing an overview of findings afterward publicly. The nine participants are UBS, PostFinance, Sygnum, Raiffeisen, Zurich Cantonal Bank, Banque Cantonale Vaudoise, SIX, TWINT and Swiss Stablecoin AG, according to the official announcement. They are testing a digital asset designed to maintain a one-to-one value against the Swiss franc. One CHFD is intended to equal one CHF inside the sandbox. The project remains experimental. Its members said the testing does not represent a decision to issue CHFD...