Several Swiss financial institutions have announced the launch of a regulated Swiss franc stablecoin sandbox test, aiming to establish a national-level digital settlement layer. Participants include UBS, Sygnum, PostFinance, Raiffeisen, Zürcher Kantonalbank, BCV, and Swiss Stablecoin AG. The sandbox is a controlled real-world environment, with trading limits and participation-scope restrictions; it will continue operating through the end of 2026 and will be opened to more institutions. The project’s goal is to support the development of Switzerland’s digital-currency ecosystem, accumulate operational experience in blockchain payments, and gain insights from real-world applications. (The Block)