BIS, Swiss National Bank, SIX Exchange Complete Wholesale CBDC Trial

Posted on by American Coins & Gold

BIS, Swiss National Bank, SIX Exchange Complete Wholesale CBDC Trial
Switzerland is practically ready to launch a wholesale central bank digital currency (CBDC).Working in concert, the Bank for International Settlements (BIS), the Swiss National Bank (SNB) and the country’s stock exchange, SIX, have test-driven the integration of wholesale CBDC settlement.Also included in the prototype were five commercial banks: Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS.Wholesale CBDC is not to be confused with a digital currency issued by a central bank that would find its way into retail bank accounts, something Switzerland has already ruled out.“Wholesale” in this context is all about connecting financial market infrastructures and streamlining transactions,…