BERN, Switzerland—The Swiss National Bank (SNB) is set to launch a wholesale central bank digital currency (CBDC) pilot supported by the country’s SIX digital exchange.
While attending the Point Zero Forum in Zurich last week, SNB chairman Thomas Jordan confirmed that the pilot is “not just an experiment, but rather a “real money equivalent to bank reserves,” Fintech Futures said.
“The objective is to test real transactions with market participants,” he added.
The pilot will run on the SIX digital exchange, the country’s principal stock exchange, for a limited time and is set to commence “soon.”
“Like many other central banks, the SNB continues to explore the integration of wholesale CBDCs. Back in Q4 2021, it joined the Bank for International Settlements, SIX and five commercial banks, including Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS, in testing the interoperability of interbank, monetary policy and cross-border transaction settlements with wholesale CBDCs,” Fintech Futures noted.
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