Central banks can push DeFi into mainstream — Swiss National Bank official
A combination of centralization and decentralization is a perfect mix for the development of crypto and DeFi, according to a Swiss National Bank official. Central bank digital currencies (CBDCs) can work well with decentralized finance (DeFi), and they have a lot of potential to boost DeFi adoption, according to a Swiss central bank official.Among many various types of digital currencies, it is CBDC that could provide more stability and lower risks to the development of DeFi, according to Thomas Moser, a governing board member at the Swiss National Bank (SNB).In order to grow, DeFi needs....
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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.
Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private Banks
A wide-range of transactions involving a wholesale central bank digital currency (CBDC) have been processed during the second phase of Project Helvetia, the Swiss National Bank (SNB)....
The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central Banks to Collaborate on CBDC Project The Swiss National Bank (SNB), Banque de France, and the Bank for International Settlements (BIS) Innovation Hub have announced this week they’ll cooperate on trials exploring the use of wholesale central bank digital currencies (CBDCs) for cross-border....
Switzerland’s central bank, the Swiss National Bank, says buying and holding bitcoin as a reserve currency is not a problem for the bank. “We can arrange the technical and operative conditions relatively quickly, when we are convinced we must have bitcoin in our balance sheet,” the chairman of the Swiss central bank reportedly explained. Switzerland’s Central Bank on Buying and Holding Bitcoin as a Reserve Currency The Swiss National Bank could buy and hold bitcoin as a reserve currency if the cryptocurrency meets the bank’s currency reserves....
A group of Swiss Bitcoin advocates led by Yves Bennaïm has initiated a referendum to amend the Swiss constitution in a way that would mandate the Swiss National Bank (SNB) to include BTC alongside gold in its currency reserves, as reported by local media. The proposed amendment to the Swiss constitution is succinct yet significant. […]
The Swiss National Bank integrated wholesale CBDC in banking systems with five commercial banks as part of the second phase of Project Helvetia. Switzerland took another step to clarify the roadmap for integrating central bank digital currencies (CBDC) 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 wholesale CBDC into the existing back-office systems and processes of five banks, namely Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS.The Bank for....