Swiss central financial institution continues to discover the potential of blockchain know-how.
On Nov. 2, the Swiss Nationwide Financial institution (SNB) introduced a pilot undertaking referred to as Helvetia Section III that may contain the issuance of an actual wholesale CBDC in Swiss francs utilizing distributed ledger know-how supplied by Six Digital Alternate, a regulated platform.
The collaborating banks, together with Banque Cantonale Vaudoise, Basler Kantonalbank, Commerzbank, Hypothekarbank Lenzburg, UBS, and Zürcher Kantonalbank, will act as intermediaries for issuers and traders in conducting bond transactions. The settlement of tokenized bonds shall be completed on a delivery-versus-payment foundation utilizing the issued CBDC.
The pilot undertaking is scheduled to run from December 2023 to June 2024 and also will discover the buying and selling and settlement of repurchase (repo) transactions utilizing wholesale CBDC. The undertaking will contain using the SIC infrastructure for tokenization and SIX SIS for integration with the normal bond settlement infrastructure.
The SNB goals to look at totally different fashions for settling tokenized asset transactions utilizing CBDCs. The findings from this pilot will contribute to the continuing analysis, however the SNB has clarified that it doesn’t characterize a dedication to introduce a public CBDC.
