During the Point Zero Forum banking conference in Zurich, the chairman of the Swiss National Bank (SNB), Thomas Jordan, announced the upcoming launch of a Swiss CHF-based central bank digital currency (CBDC). While no specific release date was provided, Jordan stated that the CBDC would be launched sooner rather than later. The announcement aligns with earlier statements from the Bank for International Settlements (BIS), who planned to have a working prototype of the CBDC ready by mid-2023 as part of Switzerland’s cryptocurrency research project, Project Tourbillon. The CBDC will be available on the SIX Digital Exchange, a subsidiary of the SIX Group, which controls Switzerland’s official stock exchange. While the SNB views this as a test run, the CBDC will be considered “real money” and backed by the institution. The governor of the SNB, Andrea Maechler, also emphasized that cash would remain in use even if CBDCs are introduced on a larger scale. Switzerland’s exploration of CBDCs demonstrates its commitment to financial stability and equitable access to resources for its citizens.
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