2/🧵 Discover how SNB is spearheading a groundbreaking venture into digital currencies with its wholesale CBDC pilot. Chairman Thomas Jordan's announcement puts Switzerland at the forefront of this rapidly evolving landscape. Let's dive in!
3/🧵 The Pilot Project: Real-World Testing for Wholesale CBDC
SNB aims to create a tangible digital currency with the same value as traditional bank reserves. It's about conducting real transactions with market participants
4/🧵 Global Context: Exploring the Potential of CBDCs
Central banks worldwide monitor CBDC developments. Digital currencies are a viable alternative and game-changer. China leads, with Japan, Brazil, and Australia expressing interest.
6/🧵 Swiss Central Bank's Approach: Prudence and Proactivity
SNB evaluates retail CBDCs carefully. Focusing on a wholesale CBDC pilot gathers insights before expanding to retail applications.
2/🧵 Discover how SNB is spearheading a groundbreaking venture into digital currencies with its wholesale CBDC pilot. Chairman Thomas Jordan's announcement puts Switzerland at the forefront of this rapidly evolving landscape. Let's dive in!
3/🧵 The Pilot Project: Real-World Testing for Wholesale CBDC
SNB aims to create a tangible digital currency with the same value as traditional bank reserves. It's about conducting real transactions with market participants
4/🧵 Global Context: Exploring the Potential of CBDCs
Central banks worldwide monitor CBDC developments. Digital currencies are a viable alternative and game-changer. China leads, with Japan, Brazil, and Australia expressing interest.
5/🧵 Advantages of a Wholesale CBDC
Increased Efficiency, Cost Reduction
Enhanced Financial Market Resilience
Improved Monetary Policy Transmission
Promoting Innovation, Fostering Competition
6/🧵 Swiss Central Bank's Approach: Prudence and Proactivity
SNB evaluates retail CBDCs carefully. Focusing on a wholesale CBDC pilot gathers insights before expanding to retail applications.
7/🧵 Read the full post on #leofinance:
https://leofinance.io/posts/asteroids/swiss-national-bank-snb-launches-wholesale-cbdc-pilot-pioneering-the-future-of-digital-currencies