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Jerrybo

SNB is open to the use of digital central bank money

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Posted (edited)

The Swiss National Bank (SNB) is open to the use of digital central bank money for the business activities of banks among themselves. As part of a cooperation with the SIX Swiss Exchange, the central bank is examining whether and to what extent digital central bank money can be integrated into new distributed systems (distributed ledger technology), said SNB President Thomas Jordan at an event on Tuesday evening. This could simplify the transfer of assets. The project is part of an innovation center operated by the Bank for International Settlements (BIS) in several financial centers around the world. The results are therefore relevant to all central banks.

The idea of a digital franc for consumers Jordan, however, again denied a rejection. This would involve too much risk, he said.

Source1 (german): https://www.tagesanzeiger.ch/wirtschaft/geld/snb-prueft-digitales-geld-fuer-banken/story/14500243

Source2 (english): https://www.bis.org/press/p191008.htm

Edited by Jerrybo
Added second source BIS

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