Swiss Bank to launch wholesale CBDC pilot project


The Swiss National Bank (SNB) will “soon” issue a wholesale national digital currency on the SDX exchange as part of a pilot project. This was stated by its chairman Thomas Jordan, writes Reuters.

“This is not just an experiment. It will be real money equivalent to bank reserves. The goal is to test transactions with CBDC with market participants, – explained the functionary.

The pilot project is designed for a limited time.

Jordan pointed to the potential risks of retail CBDCs to the financial system and the difficulty in controlling their use.

“At the moment we are careful. The Central Bank does not rule out that it will never introduce a digital franc aimed at the general public.he added.

Andrea Mehler, a member of the SNB governing board, questioned the disappearance of cash in Switzerland.

“This is the only way retail households can store funds [в доступной форме]. This feature must be supported regardless of technology.” she explained.

Recall that in November 2021, SNB announced the technical readiness for the launch of CBDC. Prior to this, representatives of the central bank stated that there was no need for a digital franc.

In 2022, Jordan ruled out buying and holding bitcoin as a reserve currency.

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