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Switzerland’s central bank, the Swiss National Bank (SNB), has announced a pilot program for a central bank digital currency (CBDC) in collaboration with six commercial banks. The pilot is set to run from December 2023 to June 2024. According to a press release on Thursday, Nov. 3, the SNB will launch the so-called Helvetia Phase III pilot on the local trading platform SIX Digital Exchange (SDX) with Banque Cantonale Vaudoise, Basler Kantonalbank, Commerzbank, Hypothekarbank Lenzburg, UBS and Zürcher Kantonalbank.  The digital currency will represent the Swiss franc “available for the settlement of real bond transactions,” the document says. Per the press release, the pilot will run from December 2023 to June 2024. “With this pilot project, we are now, for the first time, making it possible to securely and efficiently settle transactions with tokenized assets on a regulated and productive DLT platform using real wholesale CBDC.” Thomas J. Jordan, ...

South Korea n banks have been exploring alter native s for Stablecoins and CBDC s. Certificate of Deposits or CDs have managed to garner the interest of top banks of the region. Citing unnamed “industry sources,” Maeli Business News Korea pointed out, “ Hana Bank plans to conduct research on CD tokens as part of its internal decision to engage in the proof of concept (PoC) process for the CBDC project by the Bank of Korea. “ Recently, the nation’s central bank tied up with Samsung to research CBDC for offline payments. The two sides signed a Memorandum of Understanding in Q2 2023. In fact, Samsung also participated in the two-part mock testing of CBDC conducted by the Bank of Korea last year. Also Read: Bank of Korea Partners with Samsung to Research CBDC for Offline Payments Are CDs more reliable than stablecoins? The local media report underlined that Hana Bank is likely interested in exploring the central bank’s blockchain moneta...

Australia and New Zealand Banking Group Limited has tied up Grollo Carbon Ventures. Together, they successfully traded Australian Carbon Credit Units (ACCUs), making it a landmark achievement in Australia’s CBDC pilot run. According to the official statement, “This marks the completion of the Bank’s first use-case as part of the Central Bank Digital Currency (CBDC) pilot run by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC).” #cryptonews: Australia and New Zealand Banking Group (ANZ) has completed its use case in the pilot project run by the Reserve Bank of Australia (RBA) and Digital Finance Cooperative Research Centre using central bank digital currency (#CBDC). — CoinMarketCap (@CoinMarketCap) April 6, 2023 Notably, the DFCRC is a multi-million dollar program and is funded by various universities, partners, and the Australia n Government. Also Read: Why Is Australia’s ANZ Halting Fiat Deposits & Withdrawals? Tokenization ...

Within 24 hours of the job posting, 45 applicants have shown interest in joining the federal government to build an in-house CBDC. The Federal Reserve Bank of San Francisco is looking for a software engineer to help develop and implement system s related to a central bank digital currency (CBDC). On Feb. 18, the San Francisco Fed posted a job opening for a “senior application developer - digital currency.” The candidate is expected to aid the Federal Reserve in designing and implementing systems critical to CBDC research. Revealing its intention, the Fed’s post read: “Given the dollar’s important role, Federal Reserve System seeks to further understand the cost and benefits of the potential technologies for central bank digital currencies, and how the system better understand this emerging field.” Key responsibilities include developing systems related to CBDCs, identifying improvements and mitigating risks, to name a few. The job location is in San Francisco, California, with a base...