3 hours ago
1
UBS and five other major banks in Switzerland will be sandboxing a franc-based stablecoin.
A total of six banks in Switzerland have partnered to test potential use cases for a Swiss franc stablecoin, Reuters reported, citing banking giant UBS.
Per the announcement, the banks are going to launch a secure digital live environment – also known as a sandbox – to explore ways to connect blockchain-based applications with the Swiss franc.
The institutions, part of the initiative, are UBS, PostFinance, Sygnum, Raiffeisen, ZKB, and BCV.
According to the official press release from UBS,
The new initiative will test potential use cases for a CHF stablecoin in Switzerland. In doing so, the partners are exploring ways to connect blockchain applications with the Swiss franc, aiming to strengthen both the Swiss digital money ecosystem and the competitiveness of Switzerland’s financial center.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
About the author
Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.
English (US) · 