In a groundbreaking move, the Swiss National Bank (SNB) is set to extend its wholesale central bank digital currency (wCBDC) pilot, Helvetia, for an additional two years following the success of its initial trials.
The Helvetia Pilot, focused on the settlement of tokenized securities on the SIX Digital Exchange (SDX) using Swiss franc digital central bank money, has shown promising results. To date, the project has facilitated the issuance of seven digital bonds, amounting to over CHF 750 million.
Project Helvetia III, concluding this month, has proven the efficiency and safety of settling tokenized assets with wCBDC. The next phase aims to broaden the pilot’s scope, gradually incorporating more financial institutions and expanding the range of financial market transactions.
Jos Dijsselhof, CEO of SIX, highlighted the significance of this advancement: “Continuing the Helvetia Pilot is a monumental step towards wider adoption of the tokenized ecosystem. Pioneering the use of wholesale central bank digital currency goes beyond enhancing the efficiency and security of financial transactions—it lays the groundwork for the future of finance. This project underscores our commitment to innovation and solidifies Switzerland’s leadership in digital asset adoption in capital markets.”
The continuation of the Helvetia project reflects the SNB’s dedication to exploring the potential of digital currencies in modernizing financial infrastructure, ensuring Switzerland remains at the forefront of financial innovation.
For more information, visit Swiss National Bank and SIX Digital Exchange.
