The new 20 Swiss Franc note is pictured during a presentation of the Swiss National Bank (SNB) in Bern, Switzerland May 10, 2017. REUTERS
ZURICH, April 8 (Reuters) – Six Swiss banks have joined forces to test potential use cases for a Swiss franc stablecoin in Switzerland, banking giant UBS (UBSG.S), opens new tab said on Wednesday.
Jointly with the company Swiss Stablecoin AG, the banks are launching a secure digital live environment, a so-called sandbox, to explore ways to connect blockchain applications with the Swiss franc, the statement added.
UBS, PostFinance, Sygnum, Raiffeisen, ZKB and BCV are part of the initiative, which is open to other banks.
There is currently no regulated Swiss franc stablecoin with broad application in Switzerland, UBS said. The sandbox will be conducted in 2026 and aims to strengthen the Swiss digital money ecosystem, the bank added.
Reporting by Ariane Luthi, Editing by Linda Pasquini
