Digital franc, the SNB says no. What changes for border workers? (cross-border guide)

Context

The Swiss National Bank (SNB) has announced that it will not introduce the digital franc to the general public. This decision was made after evaluating the disadvantages and advantages of a digital currency.

The SNB stated that the decision was not made due to the lack of requests from Swiss citizens, but rather due to the technical complexities and economic disadvantages linked to the implementation of a digital currency.

But what changes for border workers? Cross-border workers using the Swiss franc as an exchange currency might be interested to know how this decision might affect their situation.

According to the SNB, the decision has no significant impact on the situation of border workers. Cross-border workers continue to be able to use the Swiss franc as an exchange currency, and the SNB will continue to ensure the stability and security of the currency.

However, it is important to note that the SNB has introduced some measures to facilitate the use of the Swiss franc for border crossers. For example, the SNB has increased the limit on the amount that can be transferred without having to pay commissions, from 10,000 to 20,000 Swiss francs.

In addition, the SNB announced that it will continue to offer exchange services for border crossers, including online and bank exchange services. This means that border crossers will be able to continue to use the Swiss franc for their movements and for their

Operational details

Digital franc, the SNB says no. What changes for border workers?

The SNB already has a modern and reliable payment circuit, with well-established electronic solutions for individuals and companies. In addition, instant payments have already laid the groundwork for settling real-time transactions in central bank currency.

Switzerland, in particular the Canton of Ticino, is a transit place for many border workers working in Italy. This phenomenon has been on the rise in recent years, especially after Italy's exit from the EU. According to 2022 data, more than 10,000 border workers work in the Canton of Ticino, with an estimated contribution of about 1.5 billion Swiss francs to the local economy.

The Swiss National Bank (SNB) has decided not to adopt the digital franc, which will be introduced in Switzerland from 2026. This decision could have significant implications for border workers working in the Canton of Ticino who have bank accounts in Switzerland.

Instant payments and the digital franc

The digital franc is a digital currency that will be used for real-time transactions. This system could simplify payments and reduce costs associated with traditional transactions. However, the SNB decided not to adopt this system, preferring to maintain the current system of payments.

What changes for border workers?

Border workers working in the Canton of Ticino who have bank accounts in Switzerland may be

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Key points

The Helvetia project, which provides for the availability of the digital franc only for banks and other financial operators, was extended at the end of June 2025 for another two years, until mid-2027. This news might seem insignificant to Ticino residents, but for border workers, that is, those who work or study in Switzerland but reside abroad, the digital franc is a very important issue.

According to statistics from the Swiss National Bank (SNB), in 2022, there were over 100,000 border workers active in the Swiss labour market, an increase of 10% over the previous year. Many of them reside in municipalities such as Lugano, Bellinzona and Locarno, where the cost of living is lower than in larger cities such as Zurich or Geneva.

The Helvetia project foresees that banks and financial operators are the only ones able to use the digital franc, which means that border crossers will have to continue to use cash or traditional payments to carry out financial transactions. This could be an issue for those who work in Switzerland but reside abroad, as they may have to pay higher fees for international payments.

One of the main criticisms of the Helvetia project is that it does not take into account the needs of border workers. According to the SNB, 70% of border workers active in the Swiss labour market have an income of less than CHF 50,000 per year, which means that

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Source: tio.ch