Switzerland works on new wholesale CBDC project

The Central Bank of Switzerland would be working on a wholesale CBDC, backed in Swiss francs, and with the support of Six Digital Exchange.

The information was released at the recent event in Zurich, Point Zero Forum, by the entity’s president, Thomas Jordan. The objective of the wholesale CBDC is “to make citizens see that these asset classes are currencies of real value”.

Jordan clarified: “This is not just an experiment, it will be real money equivalent to bank reserves and the goal is to test real transactions with market participants.”

All the necessary tests will be carried out to have a “safe and stable asset” for exclusive wholesale bank use.

For the launch in its final phase, the Central Bank of Switzerland relies on Six Digital Exchange, the “digital asset exchange house regulated by the country’s authorities” and which is based in Zurich.

The BCS bets that at a later stage it can be expanded to other platforms in the country, such as exchange houses under its regulation.

M.Pino

Source: bitcoin.es

(Reference image source: Olha Kucha, Unsplash)

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