Swiss National Bank extends pilot program for selling tokenized bonds settled in CBDC for two years

Odaily News The Swiss National Bank recently announced that the pilot project for selling the first batch of tokenized bonds settled in Switzerlands experimental digital currency (wholesale CBDC) will be extended for two years, calling the project very successful. The Swiss National Bank said that using CBDC (rather than private tokens) to settle and clear financial transactions can eliminate credit risk. In the United States, digital bonds issued so far have been settled in private digital tokens, which do not have the same safeguards as central bank-backed currencies. The lack of digital cash compatible with distributed ledger technology is often a significant obstacle to the development of this technology, and Switzerland is the most advanced country in this field, Moodys said in a statement. (Bloomberg)