The Swiss National Bank is set to extend its wholesale central bank digital currency pilot, Helvetia, for an additional two years following promising results from initial trials.
The Helvetia Pilot focuses on the settlement of tokenized securities on the SIX Digital Exchange (SDX) using Swiss franc digital central bank money for financial market participants. Project Helvetia III, concluding this month, has already demonstrated efficient and secure settlement of tokenized assets in wholesale central bank digital currency (wCBDC), with SIX and participating institutions issuing seven digital bonds amounting to over CHF 750 million.
The next phase of the pilot aims to broaden its scope by gradually including additional financial institutions and addressing a wider variety of financial market transactions.
Jos Dijsselhof, CEO of SIX, noted that the continuation of the Helvetia Pilot represents a significant milestone, facilitating wider adoption of the tokenized ecosystem. He stated, “Pioneering the use of wholesale central bank digital currency goes beyond enhancing the efficiency and security of financial transactions; it lays the groundwork for the future of finance. This project underscores our commitment to innovation and reinforces Switzerland’s leading position in digital asset adoption within capital markets.”