Six Swiss banks join forces to build a unified digital franc

Six Swiss banks join forces to build a unified digital franc.

• A consortium of six major Swiss banks joined forces with Swiss Stablecoin AG to test use cases for a Swiss franc-pegged stablecoin, the country’s largest bankUBS announced Wednesday
• UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank and BCV, alongside Swiss Stablecoin AG set up a sandbox in a coordinated push to bring blockchain-based payments into Switzerland's financial system, the statement added
• The group will run the stablecoin trial period through 2026, allowing banks and other institutions to test transactions in a live but controlled setting