SNB Plans to Issue Wholesale Central Bank Digital Currency on SIX Digital Exchange

The Swiss National Bank (SNB, the country’s central bank) has outlined its vision for payments, planning to issue a true wholesale central bank digital currency (CBDC) on the SIX Digital Exchange (SDX), following various wholesale CBDCs, Ledger Insights reported. test. The planned wholesale CBDC pilot is the latest iteration of the Helvetia project and will involve five banks, including Citigroup, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS. On the settlement side, Helvetia initially explored integration with SIC, Switzerland's main real-time gross settlement (RTGS) system, also operated by the SIX Group. The trial was later expanded to include a wholesale CBDC on a beta version of SDX as a settlement asset for tokenized securities transactions.