SNB Extends Wholesale Digital Currency Project Through Mid-2027

Switzerland’s pilot project for a wholesale central-bank digital currency will be extended by another year and continue through at least mid-2027, according to the Swiss National Bank.

“The extension does not constitute a commitment on the part of the SNB to introduce wholesale CBDC on a permanent basis,” it said in a statement on Monday.

As part of so-called Project Helvetia, the SNB issues real money on a blockchain. Financial institutions can use the tokenized asset for transactions with the central bank, while consumers can’t hold it. This makes it different from other digital-currency pilots, like the digital ...