PostFinance is partnering up with Swiss Stablecoin Ltd to create a digital franc.
PostFinance and a partner are conducting a proof of concept by creating and testing a digital image of the Swiss franc for certain applications. The testing of the digital franc will take place in PostFinance’s experiment environment.
PostFinance and Swiss Stablecoin Ltd (SSC) are collaborating to introduce a digital franc for Switzerland. The new payment option will enable an easier and more efficient payment system. To start, a proof of concept will be performed by cardossier association with technological support from the open-access blockchain.
Chief Business Unit Officer for Payment Solutions at PostFinance, Benjamin Staeheli, said:
The particular benefit for customers is the programmability of the digital franc. By adding logic to payments, processes can be made more efficient and automated. This represents a high level of potential for innovation and could become a catalyst for the digital economy.
In 2022, Pascale Bruderer, who had been a part of the National Council and the Council of States, founded the Swiss Sovereign Coins (SSC). This company wanted to create a digital currency using the franc. Which would have useful functions and be accepted and trusted by the public.
Pascale said:
We are delighted that we have found the ideal partner for the project launch in PostFinance, a strong, innovative financial institution. Together, we want to do the pioneering work and ensure right from the outset that a digital franc will also bring real economic benefits.
PostFinance and SSC are working together to try out a project in a controlled atmosphere. The first aim of the project will be the cardossier association, of which PostFinance is a founder. cardossier is a system that allows for the accumulation and transfer of all info on a vehicle’s whole course in a harmless and traceable manner.
Payments for services during a car’s life circle are a good place to put the digital franc to the test, as these payments are usually quite small. To make this work, it is necessary to add a micropayment solution.
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