Swiss National Bank President: Studying how to use wholesale central bank digital franc to settle monetary policy operations

The president of the Swiss National Bank said that it is evaluating the provision of Swiss franc central bank currency to financial institutions in a tokenized form, and is studying how to use wholesale central bank digital francs to settle monetary policy operations, such as repurchase or trading Swiss National Bank bills. The pilot project shows that banks, infrastructure providers and the Swiss National Bank can accommodate the use of wholesale central bank digital francs in their internal processes, but the Swiss National Bank currently believes that there is no need to issue digital central bank currency for the general public, that is, retail central bank digital francs. For Switzerland, the risks of retail central bank digital francs currently outweigh the potential benefits. (Jinshi)