According to the regulator, this may happen as early as January 2022

Switzerland's wholesale digital currency is ready for a test launch

10.11.2021 - 09:30


1 min

What’s new? According to CoinDesk, Switzerland may soon be launched tests of a wholesale national cryptocurrency (wCBDC). The information came from the representatives of the Swiss National Bank (SNB).

News on the CoinDesk website

What is known about the new asset? A wholesale CBDC is designed to settle tokenized assets. Unlike retail CBDCs, the asset will only be available to financial market players. Its main benefits are increased efficiency of trading operations, conducting company-to-company transactions, and securities management.

The project is being implemented with the participation of five major banks and the support of the Bank for International Settlements. According to the Swiss regulator, once all approvals are received, wCBDC may be launched in test mode as early as January 2022.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy