{"id":55929,"date":"2022-01-14T17:41:24","date_gmt":"2022-01-14T15:41:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55929"},"modified":"2025-09-04T03:57:25","modified_gmt":"2025-09-04T00:57:25","slug":"swiss-national-bank-conducted-a-successful-wholesale-cbdc-test","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/swiss-national-bank-conducted-a-successful-wholesale-cbdc-test\/","title":{"rendered":"Swiss National Bank conducted a successful wholesale CBDC test"},"content":{"rendered":"<p>The Swiss National Bank (SNB), together with partners, successfully tested the integration of wholesale CBDC into settlements with commercial credit institutions, the regulator said in a <a href=\"https:\/\/www.snb.ch\/en\/mmr\/reference\/pre_20220113\/source\/pre_20220113.en.pdf\">press release<\/a>.<\/p>\n<p>Participants in the experiment included Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The SNB and five commercial banks integrated wholesale CBDC into their existing systems and back-office processes. The tests covered a wide range of operations in Swiss francs \u2014 interbank, cross-border, and within the framework of monetary policy,&#8221; the regulator said.<\/p>\n<\/blockquote>\n<p>The trials formed the second phase of the Project Helvetia initiative, implemented by the SNB, SIX, and the Bank for International Settlements (BIS). The project explores the deployment of tokenized financial assets and infrastructure based on distributed ledger technology (DLT).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We demonstrated that innovations can be used to preserve the best elements of the existing financial system, including central-bank-denominated settlements, while also identifying new potential benefits. Once DLT goes mainstream, this will be more relevant than ever,&#8221; said Beno\u00eet Coeur\u00e9, head of the BIS Innovation Hub.<\/p>\n<\/blockquote>\n<p>The first phase of Project Helvetia was <a href=\"https:\/\/forklog.com\/en\/news\/bank-for-international-settlements-successfully-tests-wholesale-cbdc\">completed<\/a> in December 2020, by the partners, confirming in tests the possibility of using the national digital currency for settlements for tokenized assets.\u00a0<\/p>\n<p>The Swiss National Bank stressed that the project is exploratory in nature and does not imply that the regulator plans to issue a wholesale CBDC. Earlier <a href=\"https:\/\/forklog.com\/en\/news\/swiss-national-bank-no-need-for-a-digital-franc\">stated<\/a> the bank&#8217;s chief economist, Carlos Lentz.<\/p>\n<p>In 2021, the SNB, together with the Bank of France, <a href=\"https:\/\/forklog.com\/en\/news\/bis-joins-cbdc-testing-in-cross-border-settlements\">participated<\/a> in the Project Jura experiment under the BIS Innovation Hub&#8217;s patronage for CBDC use in cross-border payments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Swiss National Bank (SNB), together with partners, successfully tested the integration of wholesale CBDC into settlements with commercial credit institutions, according to the regulator&#8217;s press release.<\/p>\n","protected":false},"author":1,"featured_media":55930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,468],"class_list":["post-55929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-switzerland"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=55929"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55929\/revisions"}],"predecessor-version":[{"id":55931,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55929\/revisions\/55931"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/55930"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=55929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=55929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=55929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}