Swiss franc stablecoin CHFD enters live testing phase

CHFD, a Swiss franc-pegged stablecoin, is in live testing with nine Swiss institutions, including SIX and TWINT. The sandbox phase runs through 2026, with no commercial launch planned yet.

The CHFD stablecoin, pegged 1:1 to the Swiss franc, began its formal live testing phase on September 8, 2026. Initially launched with six Swiss financial institutions, the project has expanded to nine participants, following the addition of financial market operator SIX and payments provider TWINT. Operating within a controlled sandbox environment, the initiative imposes transaction limits and restricts participation to select institutions. The testing phase focuses on institutional automation, settlement of tokenized assets, and programmable payments, targeting practical use cases such as e-commerce and public-sector transactions. Managed by CHFD Infrastruktur AG, a subsidiary of Swiss Stablecoin AG, the sandbox phase will continue through the end of 2026. There is currently no commitment to a commercial launch or public release, as the project aims to evaluate the stablecoin’s potential and inform Switzerland’s digital money ecosystem.