BIS-SNB project links wholesale CBDC to core banking system

The Swiss National Bank
The Swiss National Bank
Louis Rafael Rosenthal

The Bank for International Settlements and the Swiss National Bank say they have linked a prototype wholesale central bank digital currency (wCBDC) into core banking systems.

In results published today, the BIS and SNB reported findings from the second phase of ‘Project Helvetia’. The project was carried out in conjunction with Swiss financial infrastructure firm Six, and five commercial banks: Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS.

The project’s first phase had

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