Swiss wholesale CBDC pilot kicks off in alliance with central, commercial banks

The Swiss National Bank (SNB), six commercial banks and the SIX Swiss Exchange will work together to pilot the issuance of wholesale central bank digital currencies (CBDCs) in the nation, officially known as the Swiss franc wCBDC.

The pilot project dedicated to wholesale CBDC, named Helvetia Phase III, will test the efficacy of a Swiss Franc wCBDC in settling digital securities transactions. The pilot builds from the findings of the first two phases — Helvetia Phases I and II — conducted…

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