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Swiss National Bank Launches Wholesale CBDC in Partnership With Six Commercial Banks

The Swiss National Bank (SNB) is ramping up its efforts on the issuance of a wholesale central bank digital currency (wCBDC). According to a press release, the Swiss central bank is collaborating with six commercial banks and the SIX Digital Exchange (SDX) to fast-track the implementation of the CBDC in the European nation. Dubbed the Swiss Franc wCBDC, this digital currency is part of the Swiss government’s growing efforts to launch a tokenized central bank money for use by all financial institutions within its territory. These commercial banks will utilize the infrastructure of the SDX and Swiss Interbank Clearing (SIC) platforms.

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