Swiss National Bank President: Studying how to use wholesale central bank digital franc to settle monetary policy operations

The President of the Swiss National Bank stated that they are evaluating the provision of Swiss National Bank currency to financial institutions in tokenized form. They are also studying how to use wholesale central bank digital francs to settle currency policy operations, such as repurchasing or trading Swiss National Bank notes. Pilot projects indicate that banks, infrastructure providers, and the Swiss National Bank can accommodate the use of wholesale central bank digital francs in their internal processes. However, the Swiss National Bank currently believes that there is no need to issue digital central bank currency for the general public, i.e., retail central bank digital francs. For Switzerland, the risks of retail central bank digital francs currently outweigh the potential benefits.