Swiss Central Bank with Bank for International Settlements Develop Digital Currency
Main page News, Fintech, Tech

The Central Bank of Switzerland, the Swiss National Bank (SNB), in cooperation with the Bank for International Settlements (BIS) have signed an Operational Agreement on the BIS Innovation Hub Centre in Switzerland.

As a part of the agreement, the banks will conduct research on two projects: the first project will research the integration of digital central bank money, while the second one will address the rise in requirements placed on central banks to effectively monitor fast-paced electronic markets.

"These requirements are arising inparticular from the greater automation and fragmentation of the financial markets, but alsofrom the increased use of new technologies," the announcement states.

The Chairman of the Governing Board of the SNB Thomas J. Jordan claims the bank has for some time been closely following the digitalization of the financial sector and technological innovations in the areas covered by its mandate.

Earlier, SIX, Switzerland's largest stock market, announced the launch of a bitcoin and ethereum ETP.

Swiss investors are able to add a basket of bitcoin and ethereum to their investment portfolios. This basket is weighted 90% bitcoin and 10% ethereum.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error