Switzerlands central bank, SIX Group to explore the use of digital currencies for trading

Thursday 10 October 2019 10:27 CET | News

SIX Group, the Swiss stock exchange operator, has been working with the Swiss National Bank (SNB) to examine the possible use of digital currencies in trading.

The partnership will work on a proof of concept to ‘explore how digital central bank money could be used in the settlement of tokenized assets between market participants’. A big focus of the group is the “tokenization” of traditional assets like shares and bonds.

Such a framework could involve connecting the Swiss mechanism for clearing payments with the proposed digital exchange, or the issuance of an electronic version of the Swiss franc from the SNB.

The research will be carried out at a hub set up by the SNB in partnership with the Bank for International Settlements, an umbrella group for the world’s largest central banks, according to CNBC. SIX has been working on a digital exchange that would use blockchain.

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Keywords: SIX Group, Swiss National Bank, Switzerland, digital currencies, bonds, partnership, tokenisation, trading
Countries: World