The Swiss National Bank has successfully tested the integration of a wholesale central bank digital currency settlement with commercial banks.by the Bank for International Settlements on Thursday, the successful trial was a major part of the second phase of Project Helvetia that aims to integrate tokenized financial assets with mainstream markets.
The BIS joined five commercial banks — Goldman Sachs, Credit Suisse, Citi, UBS, and Hypothekarbank Lenzburg — as well as the Swiss stock exchange platform SIX to carry out the test. In December 2020, theThe trial test which took place in Q4 2021 involved issuance, redemption, and the use of CBDCs for securities settlements both within and outside Switzerland.
Several central banks are currently studying or testing retail and wholesale CBDCs with global financial bodies like the BIS
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