Sa. Jul 20th, 2024

The Swiss National Bank (SNB) announced the continuation of the Helvetia Pilot focusing on tokenized 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).

Today, the Swiss National Bank (SNB) announced the continuation of the Helvetia Pilot focusing on tokenized 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). This comes after successfully demonstrating the efficient and safe settlement of tokenized assets in wCBDC during Project Helvetia III, which will run until the end of June this year. The next stage of the pilot aims at expanding the scope with the intention to gradually include additional financial institutions and to serve a broader range of financial market transactions.

The continuation of the Helvetia Pilot marks a significant milestone, paving the way for wider adoption of the tokenized ecosystem. It allows financial market participants to continue settling tokenized securities transaction on SDX in central bank money and to explore the added value of tokenization and integrated settlement.

“This represents a major step forward in the financial industry’s digital transformation,” said Jos Dijsselhof, CEO, SIX. “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. This project underscores our commitment to innovation and cements Switzerland’s position at the forefront of digital asset adoption in capital markets.”

David Newns, Head of SIX Digital Exchange, added:

“Robust and scalable financial market infrastructure requires that wholesale transactions be settled in central bank money, the safest form of money. To fully utilize 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 six digital bonds to date, totalling more than CHF 750 million, settled in wCBDC, highlights market confidence in our digital asset infrastructure. SDX continues to advance digital financial markets, with the continued Helvetia Pilot allowing more participants to adopt digital assets with on-chain wCBDC settlement.”

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