We previously reported plans to settle a tokenized bond issuance by the Canton of Zurich with a wholesale Swiss Franc. Additionally, the City of Basel issued a CHF 105 million bond, using the wholesale central bank digital currency (wholesale CBDC) for settlement. Both transactions occurred last Friday.
Basel’s bond was issued via the Basler Kantonalbank.
The transactions were part of Helvetia III, a production grade wholesale CBDC pilot. It involves the Swiss National Bank and the SIX Digital Exchange (SDX). It uses the same infrastructure normally used by SDX to tokenize Swiss Francs backed by a central bank balance. In this case, the issuer is the central bank rather than SDX.
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