Swiss National Bank Open to Expanding CBDC Pilot Project

The Swiss National Bank (SNB) is considering expanding its pilot project with wholesale central bank digital currencies (CBDCs), according to governing board member Antoine Martin. Speaking at the Point Zero Forum event in Zurich, Martin expressed the bank’s interest in involving more banks and increasing transaction volumes in the pilot.

The SNB recently announced it will continue providing a wholesale CBDC for at least two more years, extending Project Helvetia III, which began last year. Currently, six banks, including UBS and Commerzbank, are participating in the project, which has facilitated six digital bond issuances totaling 750 million Swiss francs ($830.38 million).

“We would like to see a pilot which develops, with more banks joining and a higher volume of transactions,” Martin stated, highlighting the potential for growth and broader participation in the project.