SNB launches pilot operation with digital central bank money
Published: Thursday, Nov 2nd 2023, 10:50
Updated At: Friday, Nov 3rd 2023, 00:54
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The Swiss National Bank (SNB) is launching a pilot operation with digital central bank money at the beginning of December.
Six commercial banks are participating in the project called "Helvetia Phase III", which is running on the regulated platform of the SIX Digital Exchange (SDX), the SNB announced on Thursday. The pilot operation will run until June.
The SNB writes that this will transfer the work carried out to date in test environments to production. Specifically, the central bank is making the digital franc available to commercial banks (franc-wholesale CBDC) for the settlement of real bond transactions. In addition, the trading and settlement of repo transactions is also being tested.
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