Swiss central bank tests wholesale CBDC with commercial partners

Switzerland took another step to clarify its roadmap for integrating central bank digital currencies, or CBDCs, into the current financial system. 

The Swiss National Bank (SNB), the country’s central bank, completed the second phase of Project Helvetia with its partners by integrating a wholesale CBDC into the existing back-office systems and processes of five banks: Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS.

The Bank for International Settlements and Swiss…

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