Vitalik Buterin Swaps $198K for Swiss Franc Pegged Stablecoin

Ethereum co-founder Vitalik Buterin has made a significant move in the latest Ethereum news by swapping nearly $198,000 worth of USDC into ZCHF. This decentralized stablecoin is pegged to the Swiss Franc and allows users to mint it by depositing crypto collateral.

The transaction, which took place on March 31, 2026, was done through Cow Protocol in several batches and had no major slippage during the process. On-chain trackers confirmed the move from Buterin's vitalik.eth wallet, showing that he swapped 197,944 USDC for 157,869 ZCHF tokens at an average price of $1.25 per ZCHF.

Analysts noted that the entry price matched the market rate of ZCHF, suggesting that this move was intentional and not speculative. This is particularly significant as it highlights growing interest in non-dollar stablecoins and supports Buterin's view that the crypto world should reduce reliance on the US dollar.