Bitcoin
$ 55,472
Ethereum
$ 2,301.6
Litecoin
$ 262.20
okex ads

The BIS is Currently Working on a Digital Currency

Switzerland’s central bank, the Swiss National Bank (SNB), and the Bank for International Settlements (BIS), considered to be the central bank for central banks, are together exploring a blockchain-based digital currency.

Join the fastest growing network on Telegram

The SNB announced the news Tuesday, saying that it has signed an operational agreement with the BIS to open a hub center in Switzerland, which will carry out research on the digital currency project.

“This new form of digital central bank money would be aimed at facilitating the settlement of tokenized assets between financial institutions,” said the SNB. Currently, the project is developing a proof of concept in partnership with Swiss stock exchange SIX Group’s digital exchange, the SIX Digital Exchange (SDX).

SIX said in a separate statement on Tuesday that the SDX will provide its platform to explore technical possibilities for integrating digital central bank currency into blockchain platforms. For instance, connecting the existing Swiss Interbank Clearing System or issuing digital Swiss franc tokens by the SNB for financial market participants (wholesale central bank digital currency) on the SDX system, SIX said.

“Our proof of concept on the subject of digital central bank money for financial market participants on DLT [distributed ledger technology] platforms will not only provide technological insights, but will also send an important signal to all market participants to take steps to explore DLT technology and digital assets,” said Thomas Zeeb, head securities and exchanges at SIX.

About the author

A Nice Man

Related Posts

1 Response

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Greentube's Trevor De Giorgio- 'tech is at the heart of the gaming industry
[WATCH] Greentube’s Trevor De Giorgio: ‘tech is at the heart of the gaming industry
April 21, 2021By
Aspire Global's Tsachi Maimon on pioneering the 'biggest market in the world' - the US
[WATCH] Aspire Global’s Tsachi Maimon on pioneering the ‘biggest market in the world’ – the US
April 21, 2021By
Bank of America: DeFi is Traditional Finance’s Nemesis Not Bitcoin
April 20, 2021By

Advertisement

Video Posts

In
Blockchain-Based Solution For Security And Scalability For Any Business
April 9, 20210
In
Tech Adoption For Small Business
April 6, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin55,472 0.05 % 0.77 % 12.75 %
Ethereum2,301.6 0.28 % 8.26 % 0.12 %
Binance Coin589.83 0.23 % 20.24 % 6.64 %
Tether0.9969 0.28 % 0.80 % 0.43 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.250 0.52 % 5.41 % 12.36 %
XRP1.410 0.70 % 10.63 % 20.87 %
Uniswap31.72 0.53 % 6.27 % 10.64 %
Litecoin262.20 0.41 % 5.12 % 1.53 %
Chainlink37.71 0.77 % 4.90 % 5.76 %