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, … [Read more...] about Swiss central bank tests wholesale CBDC with commercial partners
Wholesale
BIS, Swiss National Bank, SIX Exchange Complete Wholesale CBDC Trial
The testing, which took place over three days at the start of December 2021, proved that issuing a wholesale CBDC on a DLT platform operated and owned by a private-sector company (Swiss stock exchange owner SIX, in this case) was both operationally possible and feasible under Swiss law, according to a press release. Source link … [Read more...] about BIS, Swiss National Bank, SIX Exchange Complete Wholesale CBDC Trial
Banque de France Calls for Further Examination of Wholesale CBDCs
France’s central bank has concluded that further examination of wholesale central bank digital currencies (CBDCs) is needed following its initial experiments.The Banque de France’s experiment commenced in March 2020, with results published Monday.“We have demonstrated that a wholesale CBDC would be of benefit for cross-border and cross-currency payments as it would improve the … [Read more...] about Banque de France Calls for Further Examination of Wholesale CBDCs