Switzerland's central bank, the Swiss National Bank (SNB), has announced that it would launch a pilot program for a wholesale central bank digital currency (CBDC). The bank will issue the CBDC on SIX, the country's leading and Europe's third-largest stock exchange. The pilot program will test real transactions with market participants. - The project will continue for a limited time after its launch, which is scheduled to start soon.
- SNB Chairman Thomas Jordan said the bank has also been exploring the use of a retail CBDC for a long time.
- Jordan added that they are concerned about the potential risks of a retail CBDC for the nation's financial system, stating that retail CBDCs are more difficult to control.
- On the other hand, the central bank's chairman implied that they could still introduce a retail CBDC one day.
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