The latest trial could see the introduction of central bank digital currency move a step closer in Switzerland. The SNB says that they integrated the digital currencies into payment systems and used them in simulated transactions involving UBS, Credit Suisse, Goldman Sachs, and Citigroup. The test showed it was possible to instantaneously execute payments, ranging from CHF 100,000 to CHF 5 million, elimination counter-party risk. I still think it will be a while before this becomes a whole thing but if anything, it looks like any rollout could take place rather quickly given how central banks are continuing to do their due diligence in the meantime. ADVERTISEMENT – CONTINUE READING BELOW [embedded content]
Topics:
Justin Low considers the following as important: 1) SNB and CHF, 1.) Forex Live Based CHF SNB, central banks, Featured, newsletter
This could be interesting, too:
Swissinfo writes Swiss central bank rejects ‘creative’ demands to change course
IMFBlog writes Chart of the WeekLower Oil Reliance Insulates World From 1970s-Style Crude Shock
Cash writes Martin Schlegel wird neuer SNB-Vizepräsident
Swiss National Bank writes SNB Governing Board: Federal Council appoints Martin Schlegel as Vice Chairman of the Governing Board
The latest trial could see the introduction of central bank digital currency move a step closer in Switzerland. The SNB says that they integrated the digital currencies into payment systems and used them in simulated transactions involving UBS, Credit Suisse, Goldman Sachs, and Citigroup.
The test showed it was possible to instantaneously execute payments, ranging from CHF 100,000 to CHF 5 million, elimination counter-party risk.
I still think it will be a while before this becomes a whole thing but if anything, it looks like any rollout could take place rather quickly given how central banks are continuing to do their due diligence in the meantime.
You Might Also Like
SNB Sight Deposits: Inflation is there, CHF must Rise
2022-01-10
Sight Deposits have risen by +1.9 bn CHF, this means that the SNB is intervening and buying Euros and Dollars.
Testing The Supply Chain Inflation Hypothesis The Real Money Way
2021-12-18
Basic intuition says this is a no-brainer. Producer prices rise, businesses then pass along these higher input costs to their customers in the form of consumer price “inflation” so as to preserve profits. This is the supply chain hypothesis. Statistically, we’d therefore expect the PPI to lead the CPI.And this was expected for much of Economics’ history, taken for granted as one of those self-evident truths (kind of like the Inflation Fairy). After the dreadful experience of the Great Inflation, and the dreadful performance of Economics during it, a few scholars went back to take a second look.One of the most cited contrary studies was published in 1995 by Todd Clark of the Federal Reserve’s branch in Kansas City (Economic Review; vol. 80, issue Q III, 25-39). Using econometric evidence,
Swiss National Bank, Banque de France and BIS conclude successful cross-border wholesale CBDC experiment
2021-12-09
Central bank digital currencies (CBDCs) can be used effectively for international settlements between financial institutions, as shown in the newest wholesale CBDC experiment concluded by the Swiss National Bank (SNB), the Banque de France (BdF) and the Bank for International Settlements (BIS).
Why Governments Hate Gold
2021-11-27
Do governments hate gold? The answer: Yes — Governments hate gold because they cannot print it, and it is difficult for them to control.
Credit Suisse “Beschattungsaffäre”: FINMA stellt schwere Aufsichtsrechtsverletzungen fest
2021-10-21
Die Eidgenössische Finanzmarktaufsicht FINMA schliesst ihr Verfahren gegen die Credit Suisse im Zusammenhang mit der sogenannten Beschattungsaffäre ab. Sie stellt fest, dass bei der Credit Suisse im Zusammenhang mit Observationstätigkeiten gravierende organisatorische Mängel bestanden.
MoneyLion to Offer Crypto Investment Ahead of SPAC Merger
2021-09-16
US-based neobank MoneyLion announced the launch of its new cryptocurrency capabilities, enabling customers to buy and sell digital currencies within its app. MoneyLion said that eligible customers will initially be able to buy and sell Bitcoin and Ethereum, as well as round-up their debit card purchases in Bitcoin.
Immoblien – Wie Hypotharzinsen entstehen – und wie man mit diesem Wissen Geld spart
2021-07-19
Wenn die Federal Reserve, das amerikanische Pendant zur Schweizerischen Nationalbank (SNB), die Zinsen erhöht, dann kann dies Menschen in der Schweiz mit eigenem Haus oder eigener Wohnung direkt Geld kosten. Aber warum eigentlich? Die Fed ist weit weg und die Schweiz hat ja ihre eigenen Zinsen.
Ganz so einfach ist es nicht. Die in der Regel monatlich fälligen Zinsen für den Kauf eines eigenen Hauses oder einer Eigentumswohnung sind von mehreren Faktoren beeinflusst. Diese ändern sich immer wieder. Die Fed-Zinsen sind tatsächlich ein Faktor, der die Hypothekarzinsen beeinflusst. Damit haben Hypothekarnehmerinnen und -nehmer auch einen Orientierungspunkt, der hilft, eine Entscheidung zur Aufnahme eines Kredits zu treffen.
cash.ch nennt weitere Punkte, die zur Preisbildung beim Hypothekarzins
Tags: central-banks,Featured,newsletter