Safirum has put CHF-S, a Swiss franc stablecoin, live on Solana for verified wallets. A stablecoin here is a token meant to track the franc 1:1. Safirum AG, the company behind the token, is a fintech in the canton of Zug. CHF-S is its digital form of the franc, offered to private individuals, to banks, to crypto exchanges, and to other institutional users, according to the Keystone-SDA report on swissinfo (German).

Clouds, on top of Prime Tower

The launch was on Tuesday 3 November 2026 at Clouds, at the top of Zurich’s Prime Tower, about 120 meters above the city. About 60 guests were there, representatives of Swiss financial institutions, the blockchain community, and the token’s partners, according to finews. At the venue, transfers were shown moving in milliseconds, and a point-of-sale payment from one wallet to another settled in 1.5 seconds.

Bastien Thiébaud, Safirum’s co-founder and CEO, said at the event that he wants a token issued in Switzerland so the franc can move into digital assets. He called the franc the world’s fifth currency by trading volume, and said dollar tokens still account for 99% of the stablecoin market, according to finews.

Reserves at BEKB and Banque Richelieu

The francs that back CHF-S are in segregated accounts with two banks, Berner Kantonalbank (BEKB) plus Banque Richelieu. Safirum keeps those accounts, and wallet holders send the matching francs in, according to finews. The company says more custodian banks are still to be added.

New tokens go only to institutional investors, after an identity check, a compliance check, and the arrival of the funds. Retail customers reach CHF-S through partners or on decentralised exchanges, and only after the wallet is approved. Settlement stays on the chain, according to TokenPost.

Hans Kuhn, a former chief counsel of the Swiss National Bank, advises Safirum. According to finews, he said at the launch that minting stays with institutions under a banking-law exception. On his account, deposits from qualified investors with a professional treasury are not treated as public deposits, and only an institution whose treasury takes at least one full-time role can mint.

Maverix Securities, a securities house, was the first to mint. Giuliano Glocker is its founder and co-CEO. Writing on Tuesday, finews said it had heard that the first 10,000 francs of CHF-S were issued the day before.

The whitelist on Token-2022

Only a verified wallet can receive CHF-S. The list of those wallets is the whitelist.

A person completes KYC, the know-your-customer check, digitally, with an ID or a passport. A company completes KYB, the know-your-business check. The launch note on startupticker says the digital check is done in a few minutes. After that, the wallet is approved.

The approval sits in the Solana smart contract, which blocks a transfer to a wallet that is not on the list. Token-2022 is the Solana token program Safirum used so those rules sit in the token, according to fintechnews.

Safirum says it shaped CHF-S around Swiss rules, and it names FINMA Supervisory Notice 06/2024. FINMA is Switzerland’s financial-market supervisor. In the Keystone-SDA report on swissinfo, the issuers present the whitelist as what lets the coin meet Finma’s current requirements.

VQF is a Swiss self-regulatory body for anti-money-laundering rules. Membership is not a FINMA licence. Safirum joined VQF for the whitelist, under the Swiss anti-money-laundering law, according to finews.

A 0.05% fee, capped at 0.50 CHF-S

On a CHF-S transfer, Safirum charges 0.05% of the amount. The charge does not rise past 0.50 CHF-S. Network fees are extra. According to TokenPost, Safirum leans mainly on that transfer fee. TokenPost describes issuers whose income comes from interest on the reserves, and it names possible uses in payments between companies across borders, treasury management, settlement on crypto exchanges, and payments tied to tokenised assets.

Registered users can send CHF-S to each other at any hour and in seconds, including when the payment crosses a border, according to the Keystone-SDA wire.

AllUnity, and a franc coin still in testing

AllUnity, a German crypto company, launched a franc stablecoin in February 2026 under MiCAR, the European Union’s Markets in Crypto-Assets Regulation. The Keystone-SDA wire puts the volume at about 36 million francs and calls that level rather modest.

Swiss Stablecoin AG’s CHFD is still in testing. The wire’s consortium list includes Zürcher Kantonalbank and Raiffeisen, along with UBS and Sygnum, and also Postfinance, BCV, SIX, and Twint.

finews adds that the consortium coin rests on a bank guarantee and is still in a sandbox, and that SIX and Twint joined recently. finews also describes Frankencoin as a decentralised token that sits outside the rules for stablecoins with an identifiable issuer.

Safirum was founded about a year ago, and seven people work there. The company wants 1% of all franc transactions to be handled in CHF-S, according to startupticker.