40+ Financial Firms Join Project Agorá to Enhance Cross-Border Payments Using Tokenization
More than 40 private sector financial firms have joined forces with the Bank for International Settlements (BIS) and a consortium of leading central banks in Project Agorá, a groundbreaking initiative aimed at enhancing wholesale cross-border payments through tokenization. The project is being facilitated by the Institute of International Finance (IIF) and represents a significant step […]
Swiss National Bank and SDX Extend Project Helvetia CBDC Project for Two More Years
The Swiss National Bank (SNB) and the SIX Digital Exchange (SDX) have announced that they will extend their exploration of wholesale central bank digital currencies (CBDCs) for an additional two years. This extension is a part of the ongoing Project Helvetia, which is now entering its third phase. The project aims to further integrate CBDCs […]
World Bank Partners with SNB and SDX to Issue First Digital Bond using Swiss CBDC
The World Bank has successfully issued the first digital bond in Swiss Francs (CHF) by an international entity, with a total value of CHF 200 million. This seven-year bond, the largest CHF issuance by the World Bank since 2009, utilises Distributed Ledger Technology (DLT) and will settle using the Swiss National Bank’s (SNB) wholesale Central […]
Swiss City of Lugano Launches Blockchain Bond with Wholesale CBDC Settlement
In Switzerland, the city of Lugano has announced the issuance of its second blockchain bond, following its initial blockchain bond launch a year prior. This recent issuance, valued at CHF 100 million, integrates with the Swiss National Bank’s (SNB) Project Helvetia, marking a significant step by settling transactions in wholesale central bank digital currency (CBDC). […]
Project Promissa: A New Collaboration Between World Bank, Swiss National Bank and the BIS Innovation Hub to Test Financial Instrument Tokenization
Project Promissa, a new collaboration announced between the BIS Innovation Hub Swiss Centre, the Swiss National Bank, and the World Bank, is spearheading an experiment to revolutionise the way financial instruments, particularly promissory notes, are managed. These notes, traditionally paper-based, are crucial in funding international financial institutions, including multilateral development banks. As part of a […]
BCBS Proposes New Capital Requirement Rules for Banks Dealing with Digital Assets
The Basel Committee on Banking Supervision (BCBS) recently launched a consultation in an effort to update the rules regarding bank capital requirements as they pertain to crypto-assets. This move represents a substantial step in the evolving landscape of cryptocurrency regulation, particularly focusing on how banks interact with digital assets. Central to the proposed changes is […]
Project Helvetia Phase III: Basel-City and Zurich Spearhead wCBDC Bond Issuances on DLT Platform
Earlier this month, Cantons of Basel-City and Zurich completed the issuance of digital bonds utilising a Swiss Franc (CHF) wholesale central bank digital currency (wCBDC), provided by the Swiss National Bank (SNB) through the SIX Digital Exchange (SDX). This achievement forms a crucial part of Project Helvetia Phase III, unveiled by the SNB on November […]
Swiss Central and Commercial Banks Collaborate with SIX Swiss Exchange to Launch Wholesale CBDC Pilot
The Swiss National Bank (SNB) has embarked on a collaborative venture with six commercial banks and the SIX Swiss Exchange to explore the use of wholesale central bank digital currencies (CBDCs), launching a project referred to as the Swiss franc wCBDC. This initiative, known as Helvetia Phase III, is set to evaluate the practicality of […]
Project Mariana: Final Report Confirms Successful Cross-Border Trading Of Wholesale Central Bank Digital Currencies (wCBDC)
The Bank for International Settlements (BIS) in collaboration with the central banks of France, Singapore, and Switzerland has successfully trialed cross-border transactions using wholesale central bank digital currencies (wCBDC). This was revealed in a report released on Thursday. You can download it here. Under the banner of Project Mariana, a prototype was developed using simulated […]
Swiss National Bank Set to Launch Digital Interbank Money Pilot by end of year, Says Thomas Moser in Interview
Switzerland’s central bank, the Swiss National Bank (SNB), is actively incorporating decentralised finance technology into traditional finance and considering the issuance of digital money for broader circulation, according to Thomas Moser, an Alternate Governing Member of the SNB. In an interview with finews.tv, Moser revealed that the SNB plans to introduce digital interbank money as […]
