What exactly is CHFD?

The CHFD is a digital Swiss franc in the form of a stablecoin, which is a cryptocurrency pegged to a fixed value. One CHFD corresponds to exactly 1 CHF. Unlike Bitcoin or volatile cryptocurrencies, CHFD always retains the same value and works via blockchain technology. It has been operational since June 2026 in a protected environment.

Can I use CHFD for my personal or business payments now?

No. The CHFD is still undergoing practical testing limited to 9 companies and until the end of 2026. It operates in a protected digital environment, not accessible to the general public or other businesses. If the test is successful, the Swiss authorities will evaluate the launch to the general public, but there is no set date yet.

Which Swiss companies are testing CHFD?

Nine companies are participating in the project: UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank (ZKB), BCV, Swiss Stablecoin AG, SIX (stock exchange management company) and Twint (payment app). Together they examine concrete applications in automatic payments between institutions, digital asset management, and programmable transactions.

How does the CHFD technically work?

CHFD uses blockchain, a digital ledger where transactions are stored and verified jointly by multiple computers. This makes payments transparent, verifiable, and potentially faster than traditional centralized settlement systems. It has been operational since June 2026 in a protected environment.

What benefits would the digital franc bring to the Swiss financial system?

Possible benefits include faster automatic payments between banks, more efficient management of digital assets, reduction of online fraud through programmable payments, fairer sale of limited resources (such as event tickets), and automation of public payments (taxes, tributes). These still remain under verification during the test until the end of 2026.

CHFD digital franc: tests with 9 companies are underway (cross-border guide)

Di Redazione Frontaliere Ticino · Published on 8 September 2026

Conceptual visualization of digital Swiss franc CHFD and blockchain technology in payment testing

The CHFD digital franc is undergoing practical testing with 9 companies until the end of 2026. The applications examined range from automatic payments to managing digital assets on blockchain.

Context

In Brief

CHFD is a stablecoin worth exactly 1 Swiss franc (CHF)
Practical test with 9 companies through end of 2026 in a protected environment
Blockchain transactions; payments and digital assets under examination

Key Facts

What: Digital franc CHFD (stablecoin pegged to CHF)
When: Operational since end of June 2026, testing through end of 2026
Where: Project coordinated at Swiss national level
Who: 9 companies including UBS, PostFinance, SIX, Twint, Sygnum, Raiffeisen, ZKB, BCV, Swiss Stablecoin AG
Ratio: 1 CHFD = 1 CHF
Technology: Blockchain for verified transactions

Nine Swiss companies have launched practical tests of the digital franc (CHFD) as a stablecoin, an innovative tool announced last April. The project involves major banks such as UBS and PostFinance, regional institutions (Sygnum, Raiffeisen, Zürcher Kantonalbank, BCV), the Swiss Stablecoin AG platform, stock exchange operator SIX, and payment app Twint. This representative cross-section of the Swiss financial system is working in parallel to define concrete applications for a national digital currency.

CHFD is technically operational since the end of June and is pegged to the Swiss franc at a one-to-one ratio: one CHFD corresponds to one Swiss franc (CHF). Transactions occur via blockchain, a digital ledger in which operations are recorded and jointly verified by multiple computers, ensuring transparency and security. The pilot program will continue until the end of 2026 in a protected digital environment — no citizens or companies outside the nine participants can access or directly test it at this stage.

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Operational details

How Does CHFD Work and Why Is Switzerland Experimenting With It?

Digital franc represents a technological evolution of Swiss currency. Unlike volatile cryptocurrencies (Bitcoin, Ethereum), a stablecoin is anchored to a fixed value — in this case the CHF franc. This ensures stability and allows it to be used in contexts where volatility would be a problem: recurring payments between companies, recurring commercial transactions, payments to public entities, settlement of commercial contracts.

Switzerland has chosen to experiment with CHFD with nine financial and technological players — a representative sample of the national financial system from major banks to innovative payment services. Blockchain enables verified, transparent transactions that are potentially faster than traditional centralized settlement systems used today (such as SIC or Swiss Interbank Clearing). Every operation remains recorded and verifiable, reducing fraud risks and increasing efficiency.

What Concrete Advantages for the Swiss Financial System?

For Swiss banks and payment services, CHFD opens concrete scenarios. Automated payments between financial institutions could significantly reduce current settlement times, accelerating cash flows for companies. The management of digital assets could facilitate the trading of securities, bonds, and smart contracts in a faster and more transparent way, without paper intermediaries.

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Key points

When will the digital franc arrive on the Swiss market?

The date of a potential commercial launch remains uncertain. Testing continues until the end of 2026. Once the experimental phase is completed, federal authorities, the SNB, and participants will need to: resolve remaining technical issues (blockchain scalability, transaction latency, security protocols); define the regulatory and normative framework (how the CHFD integrates with Swiss laws on currency, anti-money laundering, data protection, and financial stability); assess the impact on national monetary policy and the stability of the Swiss financial system; verify compatibility with existing payment and settlement systems (SIC, SWIFT, debit/credit cards, banking applications).

Only then will the Federal Council, Parliament, or regulatory authorities formally decide whether the CHFD will be available for Swiss companies and the general public.

What to expect until the end of 2026?

Until the end of 2026, developments will mainly concern the financial sector and regulatory authorities. Swiss citizens will not be able to use the CHFD during the test — it is reserved for the 9 participating companies in a protected environment — but they will be able to follow the progress through official statements from the SNB, FINMA, national economic media, and participating banks.

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Frequently Asked Questions

What exactly is CHFD?: The CHFD is a digital Swiss franc in the form of a stablecoin, which is a cryptocurrency pegged to a fixed value. One CHFD corresponds to exactly 1 CHF. Unlike Bitcoin or volatile cryptocurrencies, CHFD always retains the same value and works via blockchain technology. It has been operational since June 2026 in a protected environment.
Can I use CHFD for my personal or business payments now?: No. The CHFD is still undergoing practical testing limited to 9 companies and until the end of 2026. It operates in a protected digital environment, not accessible to the general public or other businesses. If the test is successful, the Swiss authorities will evaluate the launch to the general public, but there is no set date yet.
Which Swiss companies are testing CHFD?: Nine companies are participating in the project: UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank (ZKB), BCV, Swiss Stablecoin AG, SIX (stock exchange management company) and Twint (payment app). Together they examine concrete applications in automatic payments between institutions, digital asset management, and programmable transactions.
How does the CHFD technically work?: CHFD uses blockchain, a digital ledger where transactions are stored and verified jointly by multiple computers. This makes payments transparent, verifiable, and potentially faster than traditional centralized settlement systems. It has been operational since June 2026 in a protected environment.
What benefits would the digital franc bring to the Swiss financial system?: Possible benefits include faster automatic payments between banks, more efficient management of digital assets, reduction of online fraud through programmable payments, fairer sale of limited resources (such as event tickets), and automation of public payments (taxes, tributes). These still remain under verification during the test until the end of 2026.