Swiss central bank completes pilot for CBDC settlement with commercial banks
The Swiss bank partnered with the BIS, SIX stock exchange and five commercial banks, including UBS, Citi, and Credit Suisse, to test the wholesale CBDC.
The Swiss bank partnered with the BIS, SIX stock exchange and five commercial banks, including UBS, Citi, and Credit Suisse, to test the wholesale CBDC.
While the trial demonstrated the feasibility of a wholesale CBDC, the bank claimed that distributed ledger technology has not yet proven its ability to handle the European country’s payments system.