Switzerland successfully tested digital franc

Five Swiss banks have successfully tested the digital franc for the first time in Europe. Started in December 2021, the second phase of research ended in January 2022.

The official CBDC test report stated that during the study, regulators successfully partnered with five commercial banks that added the digital franc to their business structures. Among the most famous of them are such large ones as Citigroup and Goldman Sachs.

 

 

During the tests, interbank, currency and cross-border transfers were carried out. The main goal set for the banks was to study the complexities, legal aspects and political implications of issuing a CBDC.

So far, according to experts, there are no plans for the third phase of the Helvetica project. This is just a study of existing opportunities for launching and using the national cryptocurrency. Therefore, Switzerland is unlikely to decide to launch digital francs after the second phase of research.

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