SNB, Commercial Banks Launch Real W-CBDC Pilot
The Swiss National Bank (SNB) and six commercial banks, including UBS and Commerzbank, are launching a pilot project to issue real wholesale central bank digital currency (CBDC) as part of Project Helvetia’s third stage.
The pilot, known as Helvetia Phase III, will involve banks acting as intermediaries for issuers and investors on the SIX Digital Exchange’s regulated DLT platform.
The goal is to use real Swiss Franc wCBDC to settle digital bond transactions from December 2023 to June 2024.
The project also includes testing one of three models for settling tokenized asset transactions. The SDX platform, SIX Interbank Clearing system, and SIX SIS are being used for various services, including issuance, trading, custody of digital securities, tokenization of central bank money, and integration with traditional bond settlement infrastructure. The Swiss Financial Innovation Desk supports these innovative efforts.
(With inputs from Shikha Singh)
You need to login in order to Like
