The Bank for International Settlements (BIS), the Swiss National Bank (SNB), and SIX, Switzerland’s main provider of financial infrastructure services, have concluded the second phase of Project Helvetia, which looks toward a future with more tokenised financial assets based on distributed ledger technology coexisting with today’s systems. SNB and five commercial banks – Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS – integrated wholesale CBDC in their existing back-office systems and processes. Tests covered a wide-range of transactions in Swiss francs – interbank, monetary policy and cross-border.
