Switzerland’s biggest financial lenders are teaming up with Sygnum Bank on a sandbox to test a Swiss franc stablecoin.
Swiss banking heavyweights UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank and BCV are teaming up with Swiss Stablecoin AG to test a Swiss franc stablecoin in a 2026 sandbox.
The goal, according to Sygnum’s blog post published today, is to see whether blockchain can do more than move crypto around, and actually plug into everyday Swiss money rails. Sygnum said:
“The participating companies are pursuing several overarching goals with this initiative. They aim to support the development of a Swiss ecosystem for digital money, build new capabilities and experience in handling digital payment methods, and gain practical insights. The focus is on more efficient processes and delivering real benefits for clients.”
Swiss Stablecoin AG will provide the technical infrastructure for issuing the Swiss franc stablecoin, the blog post reads.
The sandbox will also be open to other interested banks and institutions. So far, there’s no regulated Swiss franc-pegged stablecoin with broad application in Switzerland.
Swiss Banks Double Down on Blockchain
The move comes after UBS, PostFinance, and Sygnum said in September 2025 that they had completed the first binding payment using bank deposits on a public blockchain, a milestone that helped set up this next step.
So far, the vast majority of stablecoin liquidity sits in U.S. dollars. CoinGecko data shows the market is around $311 billion, with roughly 99% pegged to the dollar, which is why U.S. dollar-linked tokens continue to dominate the space.
