The Swiss National Bank (SNB) is to issue a wholesale central bank digital currency (CBDC) on Switzerland’s SIX digital exchange as part of a pilot, the central bank’s chairman said at a conference in Zurich on Monday.
“This is not just an experiment, it will be real money equivalent to bank reserves and the objective is to test real transactions with market participants,” Chairman Thomas Jordan said at the Point Zero Forum.
According to Reuters , Jordan said the pilot project, which will start “soon”, was intended at the moment to be for a limited time.
AdvertisementCentral banks across the world are studying digital versions of their currencies to avoid leaving digital payments to the private sector, as the decline of cash has accelerated in some cases due to the COVID-19 pandemic.As opposed to wholesale CBDCs which use tokenised securities, the SNB has long been cautious about the use of public, or […]
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