UBS Group AGUBS announced the Swiss franc stablecoin CHFD pilot with SIX and TWINT, advancing its digital money development.

An industry-led initiative to develop a Swiss franc-denominated stablecoin has entered a pilot phase, welcoming financial market operator SIX and payment app TWINT as new partners. Swiss bank UBS announced this on Thursday. The test is based on the Swiss franc stablecoin 'CHFD', which has been technically operational in a sandbox environment since late June, and is designed to maintain a one-to-one peg with the Swiss franc. UBS stated that the scheme aims to gain insights for the further development of Switzerland's digital money ecosystem and to strengthen the country's competitiveness as a financial center.
UBS Group AGUBS announced the Swiss franc stablecoin CHFD pilot with SIX and TWINT, advancing its digital money development.
SIX joins as a new partner in the CHFD stablecoin pilot, contributing financial market infrastructure to the test.
TWINT joins as a new partner in the CHFD stablecoin pilot, integrating the payment app into the test.