\u201cThe participating companies are pursuing several overarching goals with this initiative,\u201d UBS said in the announcement.<\/p>\n
\u201cThey aim to support the development of a Swiss ecosystem for digital money, build new capabilities and experience in handling digital payment methods, and gain practical insights. The focus is on more efficient processes and delivering real benefits for clients.\u201d<\/p>\n
UBS said the sandbox will be conducted this year and is open to other banks, companies and institutions that want to help develop a CHF stablecoin.<\/p>\n
The project follows a push by banks such as\u00a0BBVA<\/a>\u00a0to launch a euro-pegged stablecoin. As PYMNTS wrote soon after that, these efforts make it clear that \u201cthere will be no\u00a0one-size-fits-all<\/a>\u00a0bank stablecoin.\u201d<\/p>\n We\u2019d love to be your preferred source for news<\/a>.<\/p>\n Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!<\/p>\n Advertisement: Scroll to Continue<\/p>\n Rather, the market is divided along functional lines, with tokens designed for various uses like interbank settlement, asset servicing, corporate treasury or cross-border trade.<\/p>\n \u201cWe don\u2019t start with the asset,\u201d\u00a0Biswarup Chatterjee<\/a>, global head of partnerships and innovation,\u00a0Citi Services at Citi<\/a>, told PYMNTS. \u201cWe typically start with\u00a0our client need<\/a>, and then we look at the pros and cons of each type of asset or financing instrument.\u201d<\/p>\n Meanwhile, research by PYMNTS Intelligence finds that businesses that want to explore stablecoins are increasingly interested in\u00a0going through banks<\/a>\u00a0rather than crypto-native wallets or FinTech intermediaries.<\/p>\n \u201cTrust in the channel, it turns out, matters for finance chiefs, and banks offer familiar controls, integrated reporting and compliance guardrails that plug into existing treasury workflows,\u201d PYMNTS wrote last month.<\/p>\n \u201cCrypto-native wallets, while efficient, introduce unfamiliar risks: private key management, fragmented reporting, uncertain custody standards and evolving regulatory interpretations.\u201d<\/p>\n Banks on the other hand can offer a layer of trust that finance chiefs already understand, as well as established custody frameworks, standardized reporting and\u00a0compliance processes<\/a>\u00a0that align with company\u2019s audit requirements.<\/p>\n![\"Preferred](\"https:\/\/www.pymnts.com\/wp-content\/uploads\/2026\/02\/Google-PYMNTS-blackbox.svg\")
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