SIX and Twint join Swiss bank stablecoin project

Major players in the Swiss financial sector, including mobile payment giant Twint and exchange operator SIX, are joining forces to create a national stablecoin. For retailers and service providers, this signals a shift toward integrated digital currency payments at the point of sale. While this project is currently centered in Switzerland, it represents a global trend: banks are moving to control the 'digital cash' experience rather than leaving it to volatile cryptocurrencies or third-party fintechs. If you operate in international markets or follow payment technology, this move is significant because Twint is the dominant mobile payment app in Switzerland. Integrating a stablecoin directly into a mobile wallet used by millions of consumers could lower transaction costs for merchants by bypassing traditional card networks. It also simplifies the backend for financing and buy-now-pay-later (BNPL) providers who want to offer instant, programmable settlements. For your business, this means the future of 'digital payments' is moving away from credit card rails and toward bank-backed digital tokens that settle instantly and carry lower fees.

Source: Finextra — Lending

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