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.
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.
