Swiss National Bank will develop central bank digital currency at the Bank for International Settlements Innovation Center

The Swiss National Bank (SNB) and the Bank for International Settlements (BIS) have signed an agreement to cooperate on the Bank's Innovation Center in Switzerland. According to official sources, the first three innovation centers of the Bank of International Settlements will be located in Switzerland, Hong Kong and Singapore. The Swiss Innovation Center will initially focus on two research projects: integrating central bank digital currency (CBDC) into the blockchain technology infrastructure and analyzing the central bank's growing demand for fast-paced electronics markets. The Swiss National Bank, in cooperation with SIX Group, Switzerland's leading financial services provider, will conduct its first project in the form of proof of concept.