A complete of six banks in Switzerland have partnered to check potential use circumstances for a Swiss franc stablecoin, Reuters reported, citing banking large UBS.
Per the announcement, the banks are going to launch a safe digital stay setting – also referred to as a sandbox – to discover methods to attach blockchain-based purposes with the Swiss franc.
The establishments, a part of the initiative, are UBS, PostFinance, Sygnum, Raiffeisen, ZKB, and BCV.
In accordance with the official press launch from UBS,
The brand new initiative will check potential use circumstances for a CHF stablecoin in Switzerland. In doing so, the companions are exploring methods to attach blockchain purposes with the Swiss franc, aiming to strengthen each the Swiss digital cash ecosystem and the competitiveness of Switzerland’s monetary middle.
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