Swiss National Bank Will Do a Test Run of CBDCs

CryptoPotato
CryptoPotato

27 Jun 2023 9:45 PM

The Swiss CBDC will be sold on the SIX platform and counted as a test run for a possible wider release....

  • The Swiss National Bank (SNB) announced the upcoming launch of a Swiss CHF-based CBDC during a banking conference held in Zurich.
  • The CBDC will be available on SIX Digital Exchange for a limited time only and will be viewed as a test run to ascertain whether a larger scale approach to eCHF is warranted or not.
  • The CBDC will be "real money", backed by the SNB and the objective is to test real transactions with market participants.
  • Cash will not be going anywhere even if CBDCs are introduced at a larger scale within Switzerland.
  • The introduction of a CBDC is indicative of the constant research performed by Swiss authorities on the subject.

The article presents a positive sentiment towards the upcoming launch of the Swiss CHF-based CBDC and highlights the constant research performed by Swiss authorities on the subject.

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You May Ask

What is the SIX Digital Exchange?Will the CBDC be available for a limited time only?Will cash be going anywhere even if CBDCs are introduced at a larger scale within Switzerland?What is the objective of the CBDC launch?What is the prior stance of Swiss authorities on blockchain-based reserves?

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