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Swiss Central Bank Wraps Digital Currency Trial

by CBDC Insider
December 9, 2021
in Business, Europe
Reading Time: 1min read
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Swiss Central Bank Wraps Digital Currency Trial
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The Swiss and French central banks concluded a test exploring digital central bank money. The Swiss National Bank insists however that it is not issuing a digital currency anytime soon.

The Swiss and French central banks and the Bank for International Settlements have successfully completed an experiment in cross-border settlement of wholesale digital currencies, or CBDCs, in collaboration with an Accenture-led consortium, the Swiss National Bank in a statement.

The experiment, called Project Jura and involving SIX’s digital exchange, Credit Suisse, and UBS, tested the feasibility of cross-border settlement of two CBDCs on blockchain.

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Specifically, the central banks explored exchanging a financial instrument against a euro wholesale CBDC via a delivery-versus-payment mechanism of settlement, as well as a euro wholesale CBDC against a Swiss franc wholesale CBDC.

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