ZURICH, Switzerland—An official with the Swiss National Bank said it is open to expanding its pilot project with wholesale central bank digital currencies.
"We would like to see a pilot which develops, with more banks joining and a higher volume of transactions," governing board member Antoine Martin said at a recent event in Zurich, according to Reuters.
The SNB will continue providing a wholesale central bank digital currency (CBDC) for at least two more years, it said last month, extending a pilot called Project Helvetia III which began last year, Reuters reported.
Six Banks Already Participating
The report further noted that six banks, including UBS and Commerzbank, are already taking part in the project which has seen six digital bond issuances for a total value of 750 million Swiss francs ($830.38 million).