SNB prepares for launch of digital currency pilot program
The Swiss National Bank (SNB) is set to introduce a Central Bank Digital Currency (CBDC) for wholesale payments on the country’s SIX Digital Exchange, marking Switzerland’s entry into the expanding arena of digital currency innovation. Swiss National Bank (SNB) has made a groundbreaking announcement with its decision to commence issuing a CBDC specifically for wholesale payments on Switzerland’s SIX Digital Exchange, according to its chairman Thomas Jordan. Swiss National Bank to launch CBDC on Switzerland's SIX digital exchange "This is not just an experiment, it will be real money equivalent to bank reserves and the objective is to test real transactions with market participants," Chairman Thomas Jordan CBDC'S HAPPEN SLOWLY… pic.twitter.com/o6BRKCUI5M — Kyle Chassé (@kyle_chasse) June 26, 2023 This move indicates a shift towards digital financial systems and places Switzerland alongside other nations such as China, India, and Austral...