The Swiss National Bank is to expand its wholesale central bank digital currency pilot, Helvetia, for a further two years after promising results in early trials.
The Helvetia Pilot focusses on tokenized securities settlement on SIX Digital Exchange (SDX) in Swiss franc digital central bank money for financial market participants.
Project Helvetia III, which is set to conclude this month, has successfully demonstrated the efficient and safe settlement of tokenized assets in wCBDC, with SIX and participating insitutions issuing seven digital bonds to date, totalling more than CHF 750 million.
The next stage of the pilot aims at expanding the scope with the intention to gradually include additional financial institutions and to serve a broader range of financial market transactions.
Jos Dijsselhof, CEO, SIX says the continuation of the Helvetia Pilot marks a significant milestone, paving the way for wider adoption of the tokenized ecosystem.
“Pioneering the use of wholesale central bank digital currency goes beyond enhancing the efficiency and security of financial transactions, it is the groundwork for the future of finance," he says. "This project underscores our commitment to innovation and cements Switzerland’s position at the forefront of digital asset adoption in capital markets."