Switzerland is set to launch a new pilot project to explore the potential of a wholesale central bank digital currency (wCBDC). The pilot will be hosted on SDX, the digital asset trading platform owned by SIX Digital Exchange, and will utilize the infrastructure of Swiss Interbank Clearing. This move comes as central banks around the world are increasingly exploring the concept of digital currencies.
The wCBDC pilot project aims to examine the technical feasibility and practicality of a digital currency for wholesale banking transactions. This would enable financial institutions to settle their transactions using a digital currency issued by the central bank. The project will also focus on assessing the benefits and risks of such a digital currency, including its impact on monetary policy, financial stability, and the overall banking system. If successful, this pilot could pave the way for the introduction of a wholesale CBDC in Switzerland and potentially influence the development of digital currencies globally.
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