A group of leading Swiss banks has launched a joint initiative to explore potential use cases for a Swiss franc-backed stablecoin, marking a new step toward integrating blockchain technology into traditional banking systems.

Swatch Group CEO Nick Hayek has voiced concern over the Swiss franc’s rapid rise, saying the currency’s strength is putting Swiss manufacturers at risk.

The U.S. dollar fell Monday as investors sought safe-haven currencies amid President Donald Trump's new tariff threats against Europe over Greenland. The yen and Swiss franc saw gains as markets moved toward caution.

The dollar fell sharply on Friday, reaching a decade-low against the Swiss franc as growing concerns over the U.S. economy prompted investors to move away from U.S. assets.