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UBS, Five Swiss Banks Launch 2026 Sandbox for Franc-Pegged Stablecoin

The testbed seeks to close Switzerland’s gap in regulated digital francs.

The new 20 Swiss Franc note is pictured during a presentation of the Swiss National Bank (SNB) in Bern, Switzerland May 10, 2017. REUTERS/Denis Balibouse
Image
A Swiss flag and a mouette boat, as seen from the Mont Blanc bridge, in Geneva, Switzerland, March 18, 2026. REUTERS/Denis Balibouse
Ubs and major swiss lenders begin stablecoin sandbox trials in switzerland

Overview

  • UBS and five partners opened a live sandbox with Swiss Stablecoin AG to trial a Swiss franc stablecoin, a digital token pegged to the franc.
  • The program will run through 2026 and invites additional banks to join the tests.
  • Participants will try selected payment use cases under set safeguards to gauge gains like faster settlement, clearer records, and programmable transfers for clients.
  • UBS has built related tools through a 2024 pilot of UBS Digital Cash and a CHF 375 million blockchain bond, and it is exploring limited crypto access for clients.
  • The effort targets the lack of a widely used, regulated CHF stablecoin and builds on prior Swiss work, including a 2021 cross-border CBDC trial with France and the SNB’s 2023 Project Helvetia.