Switzerland’s sandbox for developing a stablecoin pegged to the Swiss franc has officially moved into its testing phase. Joining the lineup are market operator SIX and payments app TWINT, alongside several banks that were already on board with the initiative.

New Players: SIX and TWINT

SIX and TWINT are now among the sandbox’s partners. Their involvement broadens the pool of participants, working alongside banks to shape how a franc-backed stablecoin could work in practice.

Sandbox Goals

The main aim here is to design a Swiss franc stablecoin and put related processes through their paces in a controlled environment. With the project now in testing, it’s time to see if the key components can actually deliver in real-world scenarios.

Background

The sandbox brings together stakeholders who are interested in a franc-denominated stablecoin. Right now, the focus is on banks and fintechs collaborating—SIX and TWINT included—to figure out what a Swiss stablecoin ecosystem could look like.