UBS and Major Swiss Banks to Test Swiss Franc Stablecoin
A complete of six banks in Switzerland have partnered to take a look at potential use instances for a Swiss franc stablecoin, Reuters reported, citing banking large UBS.
Per the announcement, the banks are going to launch a safe digital stay surroundings – also referred to as a sandbox – to discover methods to join blockchain-based functions with the Swiss franc.
The establishments, a part of the initiative, are UBS, PostFinance, Sygnum, Raiffeisen, ZKB, and BCV.
According to the official press launch from UBS,
The new initiative will take a look at potential use instances for a CHF stablecoin in Switzerland. In doing so, the companions are exploring methods to join blockchain functions with the Swiss franc, aiming to strengthen each the Swiss digital cash ecosystem and the competitiveness of Switzerland’s monetary heart.
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