ZURICH (Business Emerge): The Swiss National Bank (SNB) is considering broadening its pilot initiative involving wholesale central bank digital currencies (CBDCs), according to Antoine Martin, a member of the SNB governing board, speaking at the Point Zero Forum in Zurich.
Martin expressed interest in expanding the pilot project, envisioning increased participation from more banks and a rise in transaction volumes. He highlighted the potential benefits of such an expansion during his address at the event.
Last month, the SNB confirmed it would continue its wholesale CBDC project, known as Project Helvetia III, for at least two more years. This extension builds on the initial phase of the project, which commenced last year.
Currently, six banks, including UBS and Commerzbank, are involved in the project. The initiative has successfully facilitated six digital bond issuances, accumulating a total value of 750 million Swiss francs (approximately $830.38 million).