Swiss fintech Safirum has today launched its previously announced Swiss franc stablecoin CHF‑S. The digital token is fully backed by Swiss francs held at two partner banks. An integrated whitelisting function ensures that, as required by regulation, transactions can only take place between identified users.
Safirum AG, based in Canton Zug, has today 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 announced the launch of the stablecoin 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. 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 decentralised trading platforms (DEXs), after having whitelisted their wallets, with all settlement processes taking place directly on the blockchain.
Whitelisting 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 before 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, commented: “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.”
Fast transactions and low fees
For the Swiss franc, there is currently no digital solution with a comparable regulatory framework and institutional focus. 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.
Potential applications for CHF‑S include cross-border payments between companies, treasury management, settlement of transactions on crypto exchanges and payments involving tokenised assets. CHF‑S therefore makes it possible to use the stability of the Swiss franc in digital financial and payment systems.
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,” Thiébaud said.
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.”
Source: Tahawul Tech