Swiss financial technology company Safirum AG has officially launched CHF-S, a Swiss franc-backed stablecoin operating on the Solana blockchain, introducing a new digital currency solution designed to support cryptocurrency trading, cross-border payments, and institutional financial transactions.
The launch, announced on November 3, 2026, marks a significant development in Switzerland's digital asset sector as financial institutions and fintech companies continue exploring blockchain-based alternatives to traditional payment and settlement infrastructure.
Based in the Swiss canton of Zug, Safirum developed CHF-S to provide a digital representation of the Swiss franc, combining the currency's established reputation for stability with the speed and efficiency of blockchain technology. The stablecoin is designed for retail users, banks, cryptocurrency exchanges, and other institutional market participants seeking access to Swiss franc-denominated digital assets.
According to Safirum, every CHF-S token in circulation is backed on a one-to-one basis by an equivalent amount of Swiss franc reserves. The underlying funds are maintained in segregated accounts at two banking partners, Berner Kantonalbank (BEKB) and Banque Richelieu, with plans to introduce additional banking partners as custodians.
The reserve-backed structure is intended to maintain the token's value in line with the Swiss franc while providing users with an alternative mechanism for transferring and settling funds through blockchain networks.
CHF-S operates on the Solana blockchain using its Token-2022 standard, which supports high-speed transaction processing, scalability, and relatively low network costs. The infrastructure enables transactions around the clock, potentially reducing the time and operational complexity associated with conventional financial transfers.
A central feature of the stablecoin is its integration of identity verification and compliance requirements directly into its blockchain infrastructure.
Under the system, individual users must complete Know Your Customer (KYC) verification, while businesses are subject to Know Your Business (KYB) procedures before receiving authorization to transact using CHF-S.
Once verification is completed, approved digital wallets are added to a whitelist embedded in the token's smart contract. Transfers between verified wallets are permitted, while transactions involving unauthorized wallets are automatically blocked.
Safirum said the compliance framework was developed with reference to Swiss regulatory requirements, including FINMA Supervisory Notice 06/2024. The company is also a member of VQF, a Swiss self-regulatory organization recognized by the country's financial market supervisor.
The stablecoin's potential applications extend beyond basic digital payments to include institutional treasury management, international business transfers, cryptocurrency exchange settlement, and transactions involving tokenized financial assets.
For cryptocurrency exchanges and digital asset platforms, access to a Swiss franc-denominated stablecoin could expand the range of currency-based settlement options available to market participants, particularly within an ecosystem largely dominated by US dollar-backed tokens.
Safirum has established a transaction-based revenue model, charging 0.05% per transfer, with a maximum fee of CHF 0.50 equivalent in CHF-S, excluding applicable blockchain network costs.
Bastien Thiébaud, Co-Founder and Chief Executive Officer of Safirum, emphasized the importance of combining blockchain capabilities with regulatory compliance to support broader institutional adoption.
The company also received support from Swiss financial services firm Maverix Securities, which participated in the project's development and became the first company to mint CHF-S tokens.
Giuliano Glocker, Founder and Co-Chief Executive Officer of Maverix, highlighted the potential for the stablecoin to support digital asset management and create new applications within structured investment products.
The launch comes as demand for digital currencies linked to traditional fiat currencies continues to influence developments across the cryptocurrency industry, with financial institutions increasingly examining stablecoins for payments, settlement, and tokenized asset transactions.
By introducing a Swiss franc-backed digital asset with integrated identity verification, Safirum aims to strengthen the connection between conventional financial infrastructure and blockchain-based financial services, offering a new settlement option for participants in the evolving digital asset market.
