Six of Switzerland's largest banks, including UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, and Banque Cantonale Vaudoise, are collaborating on a sandbox initiative. This project aims to test use cases for a Swiss franc stablecoin within a secure digital environment.
The sandbox, scheduled for 2026, will leverage Swiss Stablecoin AG's issuance infrastructure. The primary goal is to gain practical experience with digital payment methods and explore blockchain-based financial applications connected to the Swiss franc.
This initiative follows previous explorations by Swiss lenders into blockchain technology. In September 2025, UBS, PostFinance, and Sygnum Bank successfully completed a proof of concept for deposit tokens, testing interbank payments on a public blockchain.
The tests confirmed the feasibility of institutional blockchain payments, but highlighted the need for further design adjustments and broader industry cooperation for scaling these solutions.