The Swiss National Bank (SNB) is launching a wholesale central bank digital currency (CBDC) pilot with SIX Digital Exchange (SDX) and six commercial banks. The pilot project, called Helvetia Phase III, will create a tokenized version of the Swiss franc as a settlement tool for digital securities transactions between financial institutions on digital exchanges, SDX said. The six commercial banks are Vaudois Bank, Basler Cantonal Bank, Commerzbank, Rendsburg Mortgage Bank, UBS Group and Zurich Cantonal Bank. The pilot will run from December 2023 to June 2024. (Coindesk)