The Swiss Bankers Association has proposed the creation of state-approved digital tokens in the digital economy of Switzerland.
The organization has given three options on how to implement the idea.
- The idea has been presented in a white paper.
- The paper's authors suggest the creation of a deposit token that is issued by state-verified intermediaries.
- The token would be issued and redeemed by smart contracts and denominated in Swiss francs.
- According to the white paper, there could be three variants of this token:
- standardized tokens that any commercial bank can issue,
- colored tokens that are issued by commercial banks,
- and joint tokens that are issued by a licensed and supervised special-purpose vehicle that is comprised of banks.
- The authors stated that they believe the third option would be the most suitable.
- According to the suggestions made in the paper, this token would be a layer-2 solution so that it could be used in decentralized finance applications.
