The Swiss National Bank is getting ready to issue a wholesale central bank digital currency (CBDC) on Switzerland's SIX digital exchange. It is part of a pilot project, which will start soon..
SNB Chairman Thomas Jordan: "This is not just an experiment, it will be real money equivalent to bank reserves and the objective is to test real transactions with market participants,"
As opposed to wholesale CBDCs which use tokenised securities, the SNB has long been cautious about the use of public, or retail, CBDCs. Jordan said he was concerned about potential risks retail CBDCs could have for the financial system, while the use of them was more difficult to control.
Source: reuters.com