SNB Announces Plans To Launch Wholesale CBDC Pilot
Switzerland looks set to join the list of nations conducting a CBDC pilot as Swiss National Bank (SNB) plans to begin its wholesale CBDC pilot soon....
- Switzerland is set to begin a wholesale CBDC pilot in conjunction with SIX digital exchange.
- The Swiss CBDC will be considered real money upon launch and is designed for interbank settlement and financial transactions between institutions.
- The SNB expressed reservations about retail CBDCs, which are designed for general public use, and plans to retain cash use.
- 120 countries worldwide have shown interest in CBDCs, with 11 nations completing successful launches, while 18 others are currently in the pilot stage.
The article presents a positive sentiment towards Switzerland's decision to conduct a wholesale CBDC pilot and highlights the growing interest in CBDCs worldwide. However, it also acknowledges the reservations of the SNB towards retail CBDCs and the importance of maintaining cash use.