Sumary of Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector:
- The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions..
- The tests will be supported by an Accenture-led private sector consortium that also includes Credit Suisse, Natixis, R3, SIX Digital Exchange, and UBS..
- #BISInnovationHub @banquedefrance and the Swiss National Bank launch #ProjectJura – a collaborative experiment into wholesale #CBDC @SNB_BNS_en https://t.co/vtbMCSJA6i pic.twitter.com/lV7mKI7R0S The project has been named “Jura,”.
- The experiment will focus on cross-border settlements powered by two wholesale CBDCs and a French digital financial instrument on a distributed ledger technology (DLT) platform, SNB detailed in a press release published Thursday..
- Project Jura to Test Effectiveness of Wholesale CBDCs in Cross-Border Settlement Dozens of central banks around the world have been working on projects to issue CBDCs, including those of China, Russia, the U.S., and the Eurozone..
- The People Bank of China has arguably the most advanced project, with numerous domestic trials already underway and a plan to test the digital yuan (e-CNY) in cross-border transactions with Hong Kong….