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Swiss Banks Unite to Test Franc Stablecoin
Six prominent Swiss banks, spearheaded by global financial services firm UBS, have announced a collaborative effort to trial potential applications for a Swiss franc-pegged stablecoin. This initiative, undertaken jointly with Swiss Stablecoin AG, involves launching a secure digital live environment, known as a sandbox. The aim is to explore ways to connect blockchain applications with the Swiss franc, ultimately strengthening the nation’s digital money ecosystem. Participating institutions include UBS, PostFinance, Sygnum, Raiffeisen, ZKB, and BCV, with the program open to other banks. The move comes as financial ... (full story)
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