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#GateSquareAprilPostingChallenge
Switzerland is entering the stablecoin space
UBS and five other major Swiss banks are joining forces to test a stablecoin pegged to the Swiss franc.
Currently, there is no widespread CHF stablecoin in the country, but the project is launching this year.
Who else is moving in this direction:
— Europe
ING, UniCredit, SEB, and others are preparing for the euro-stablecoin (launch in 2026)
— USA
Goldman, Citi, JPM, and others are testing stablecoins tied to G7 currencies
— United Kingdom
The regulator has already launched a sandbox for testing stablecoins and is preparing regulations
— Hong Kong
Laws have been enacted, and the first licenses for issuing stablecoins have been granted
— France
Société Générale has already launched its own stablecoins (EUR and USD)