Swiss Central Bank Launches Wholesale CBDC Pilot on Six Digital Echange

The Swiss National Bank (SNB) will reportedly launch a pilot program of a wholesale Central Bank Digital Currency (CBDC) on the SIX digital exchange. Speaking at the Point Zero Forum in Zurich, SNB Chairman Thomas Jordan confirmed that the digital currency will be on par with bank reserves and is aimed at testing real transactions with market participants. Jordan revealed that he was cautious about the risks of retail CBDC, though he did not rule out the possibility of launching it in the future. SNB Governor Andrea Maechler reiterated that despite the launch of the pilot, cash remains an integral part of the country’s financial landscape.

Sources: https://t.ly/MIbF