Swiss National Bank (SNB) has announced the continuation of the Helvetia Pilot focusing on tokenised securities settlement on SIX Digital Exchange (SDX) in Swiss franc digital central bank money for financial market participants, known as wholesale central bank digital currency (wCBDC).
The next stage of the pilot aims gradually include additional financial institutions and to serve a broader range of financial market transactions.
Jos Dijsselhof, CEO of SIX, says: “Pioneering the use of wholesale central bank digital currency goes beyond enhancing the efficiency and security of financial transactions, it is the groundwork for the future of finance."
David Newns, head of SIX Digital Exchange, adds: "Robust and scalable financial market infrastructure requires that wholesale transactions be settled in central bank money, the safest form of money. To fully utilise blockchain's potential, both the tokenized investment and the settlement asset must be on the same chain.
“Project Helvetia III demonstrated that SDX can meet these requirements. The participation of leading financial institutions and the issuance of seven digital bonds to date, totalling more than CHF 750 million, settled in wCBDC, highlights market confidence in our digital asset infrastructure.”
