The Swiss banking giant’s decision to join SIX Digital Exchange stems from the desire to incorporate digital assets into its services for retail and institutional clients.
Swiss cities of Basel and Zurich are pioneering the use of wholesale CBDCs from the Swiss National Bank to settle digital bonds, marking a significant step in the tokenization of financial assets.
Zurich pioneers digitization with a CHF 100M digital bond on SDX, utilizing CBDC settlements, led by UBS, Raiffeisen, Zurcher Kantonalbank, signaling a new era for Swiss tokenization.
The pilot, dubbed Helvetia Phase III, builds upon two previous studies with collaborations from the Bank for International Settlements and the SIX Digital Exchange.
SNB's pilot program will explore the possibility of launching a wholesale CBDC, although technical details of its whitepaper state it will rely on commercial bank money rather than a CBDC.
