Europe & Central Asia · GDP rank #19
Switzerland
CH · CHF @ 1.2757/USD
Switzerland is a closed-loop A2A payments market — TWINT is universal for domestic P2P and increasingly P2M, SIC5 delivered retail instant on an ECB-comparable footing in August 2024, and cross-border CHF flows route mostly through SIX-operated channels. The country sits outside SEPA's instant-payments obligations and the long tail of card spend still flows through the classic Visa/Mastercard stack.
Tab 05
Cross-border
Inbound and outbound remittance corridors, tourism flows, FX markup on retail cross-border, and the country's posture on stablecoin adoption. Corridor figures come from the World Bank RPW feed or the publishing central bank; both are cited when they disagree.
Reported inbound corridors
2 corridors
Reported outbound corridors
4 corridors
Avg. consumer FX markup
Trend · stable
Top inbound corridors
- Germany$700.0M
via SEPA Credit Transfer + Wise + Revolut · 1.3% cost
- France$400.0M
1.4% cost
Top outbound corridors
- Germany$6.2B
1.1% cost
- France$4.8B
1.2% cost
- Italy$3.9B
1.3% cost
- Portugal$1.8B
1.6% cost
FX cost
What consumers pay above the interbank
Retail FX markup is the spread between the mid-market rate and the rate the consumer receives — the single largest friction point in small-ticket cross-border.
Cross-border worker corridors (DE, FR, IT) are among the lowest-cost globally owing to competitive neobank layer (Wise, Revolut, Neon, Yapeal) plus legacy direct debit mesh.
Consumer FX markup vs 3% ceiling
Benchmark 3% is the G20 target for average remittance corridor cost; above the mark is expensive by policy standard.
Trend · stable
Swiss Financial Market Supervisory Authority (FINMA)
FINMA's 'stablecoin guideline' (July 2024) classifies fiat-backed stablecoins as deposits unless fully collateralised in segregated accounts; Taurus, Metaco (now Ripple) and Sygnum operate regulated tokenisation platforms in CHF.