The Swiss Franc, the strongest in the world now has a regulated stablecoin CHF-S built on Solana
Safirum AG, based in Canton Zug, launched its Swiss franc stablecoin CHF‑S on the Solana blockchain. This provides a new digital form of the Swiss franc, enabling fast and cost-efficient transactions around the clock. CHF‑S has been developed in accordance with Switzerland’s stringent regulatory requirements and is aimed at both retail users and banks, crypto exchanges and other institutional users. The Swiss fintech had preciously announced it would be launching the stablecoin back in June 2026.
Every CHF-S token in circulation is backed 1:1 by an equivalent amount of fiat currency reserves. These funds are held in segregated accounts at two partner banks: Berner Kantonalbank (BEKB) and Banque Richelieu.
Giuliano Glocker, Founder and Co-CEO of Maverix, comments, “At Maverix Securities, we have combined digital assets with traditional investment solutions for years. We are pleased to have supported Safirum from the outset and to have been the first company to mint CHF-S. This lays the foundation for new applications, particularly for our clients and the management of digital assets within our AMCs.”
According to the announcement, additional banks will be onboarded as custodians in the near future.
New tokens are issued through institutional investors following the completion of the relevant identification and compliance procedures and the receipt of the corresponding funds.
Retail users can access CHF-S directly through integrated partners or decentralized trading platforms (DEXs), after having whitelisted their wallets, with all settlement processes taking place directly on the blockchain.
A key feature of CHF‑S is the integration of regulatory requirements into its technical infrastructure. Safirum has designed the stablecoin in accordance with the regulatory requirements applicable in Switzerland, in particular FINMA Supervisory Notice 06/2024.
Accordingly, all users must undergo identity verification befbefore using CHF‑S. Individuals complete a KYC (“Know Your Customer”) check, while companies undergo a corresponding KYB (“Know Your Business”) check. Identity verification can be completed digitally and takes just a few minutes.
Following successful verification, the digital wallet is approved for use with CHF‑S (“whitelisting”). This function is embedded directly in the relevant smart contract on the Solana blockchain. As a result, CHF‑S can only be transferred between approved wallets. Transfers to non-verified wallets are automatically blocked.
Bastien Thiébaud, co-founder and CEO of Safirum, noted, “We do not see identity verification and whitelisting as obstacles, but as important prerequisites for the widespread use of stablecoins. They create trust and transparency and make it possible to combine the benefits of blockchain with the requirements of the traditional financial system. This is crucial if banks, insurers and other institutional players are to use stablecoins on a large scale in the future.”
CHF‑S is built on the Solana blockchain and its Token-2022 standard. Safirum chose this infrastructure because it enables high processing speeds, scalability and low transaction costs, and allows for applications for cross border payments, treasury management, settlement of transactions on crypto exchange and payments for tokenized assets.
Unlike stablecoin providers whose business models rely primarily on returns generated by the underlying reserves, Safirum focuses mainly on transaction fees. Transfers of CHF‑S incur a fee of 0.05% of the transaction amount, capped at 0.50 CHF‑S, plus network fees.
“The Swiss franc is one of the most stable currencies in the world. With CHF‑S, we are also making it available for blockchain-based applications. We see significant potential for a digital franc that is issued in Switzerland, complies with Swiss regulatory requirements and can be integrated into the international digital financial infrastructure,” Bastien Thiébaud said.
CHF-S is one of a handful of Swiss Franc backed stablecoins. It joins a decentralized crypto collateralized stablecoin Frankencoin (ZCHF), representing the largest share of the CHF stablecoin market (around $42.4 million market cap) and VNX Swiss Franc (VCHF), a fiat-backed Swiss franc stablecoin issued by VNX with a market capitalization of around $4.9 million.
