Swiss National Bank and BIS complete digital currency proofs-of-concept
The Swiss National Bank and the BIS don’t want to miss out on possible blockchain-powered benefits for the financial system. The Bank for International Settlements and the Swiss National Bank and are exploring the benefits of implementing a central bank digital currency, or CBDC, using blockchain technology.According to a Dec. 3 announcement, the BIS Innovation Hub Swiss Centre, or BISIH, has successfully completed two proofs-of-concept linking existing payment systems to a distributed ledger and settling tokenized assets with a wholesale CBDC.Known as “Project Helvetia,” the new....
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The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX.
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