Global: Swiss National Bank to Expand wCBDC Trials

The Swiss National Bank (SNB) has announced an expansion of its wholesale central bank digital currency (wCBDC) pilot, Project Helvetia, following promising results from its initial trials. The project will continue for an additional two years.

The Helvetia pilot focuses on the settlement of tokenized securities on the SIX Digital Exchange (SDX) using Swiss franc digital central bank money. This initiative targets financial market participants, aiming to enhance the efficiency and security of financial transactions.

Project Helvetia III, which concludes this month, has demonstrated the safe and efficient settlement of tokenized assets in wCBDC. Since its inception, SIX and participating institutions have issued seven digital bonds, amounting to over CHF 750 million.

The next phase of the pilot seeks to expand its scope by gradually including more financial institutions and catering to a broader range of financial market transactions.

Jos Dijsselhof, CEO of SIX, highlighted the significance of the project’s continuation, stating, “The extension of the Helvetia Pilot is a significant milestone, paving the way for the wider adoption of the tokenized ecosystem. Pioneering the use of wholesale central bank digital currency not only enhances the efficiency and security of financial transactions but also lays the groundwork for the future of finance. This project underscores our commitment to innovation and cements Switzerland’s position at the forefront of digital asset adoption in capital markets.”