Remove stems and center ribs from chard. Cut stems and ribs into 1/2-inch pieces; set aside. Coarsely chop leaves; set aside.
Bring a large pot of water to a boil. Add stems and ribs; cook 5 minutes. Stir in leaves; cook for 2 minutes or until leaves wilt. Drain well, pressing chard with the back of a spoon to remove as much water as possible.
Return pan to medium heat. Add oil to pan; swirl to coat. Add chard, crème fraîche, salt, and pepper. Cook 4 minutes or until chard is tender.