Today the Bank for International Settlements (BIS) published the results of a wholesale central bank digital currency (wCBDC) experiment by the Swiss National Bank (SNB), Project Helvetia Phase II. The research was conducted with the Swiss stock exchange SIX on a test version of its blockchain-based SIX Digital Exchange (SDX) network, the regulated digital asset platform. The central bank has not decided to issue a wholesale CBDC that is only available to banks, not consumers.
A key objective of the tests was to enable interoperability between the DLT solution and existing banking systems at both the central bank and commercial banks.
Five commercial banks were involved in the experiments, Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS. Plus, it integrated with Swiss real time gross settlement (RTGS) system SIX Interbank Clearing (SIC) as well as the banks’ core banking systems.
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