Swiss National Bank moves closer towards digital assets
The Bank for International Settlements’ (BIS) Innovation Hub joined the Swiss National Bank (SNB) and financial infrastructure operator, SIX, in an experiment that integrates tokenized digital assets and central bank money.
SNB announced that it has carried out a successful test of a centrally-issued digital currency.
According to BIS, the test which is named 'Project Helvetia' explored the technological and legal feasibility of transferring digital assets through issuing a wholesale CBDC onto a distributed digital asset platform and linking the digital asset platform to the existing wholesale payment system.
"The initiative demonstrated the feasibility and legal robustness of both alternatives in a near-live setup," BIS said.
However, it ackowledge several challenges that cou...