Swiss National Bank willing to expand central bank digital currency pilot project

Antoine Martin, a member of the Swiss National Bank's board of directors, said at the Point Zero Forum event in Zurich that the Swiss National Bank is willing to expand its central bank's digital currency pilot project. "We hope to see the pilot project continue to develop, more banks join, and transaction volume increases." The Swiss National Bank said last month that it would continue to offer central bank digital currency (CBDC) for at least two years and extend the pilot project Project Helvetia III that began last year. Six banks, including UBS and Commerzbank, have participated in the project, which has issued six digital currency bonds with a total value of 750 million Swiss francs (830.38 million U.S. dollars). (Global Market Report)