Switzerland has launched an instant payment system to catch up with the rest of Europe and transform its cash-loving people into a digital payments society. The Swiss National Bank (SNB) announced that its new digital payments system is now available to 60 financial institutions, covering over 95% of the country’s retail transactions. It plans to integrate...
Tag: Swiss National Bank
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Switzerland moves towards cashless future with instant payments
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Switzerland Central Bank Willing to Expand CBDC Project
The Swiss National Bank is reportedly amenable to expanding its digital currency project. “We would like to see a pilot which develops, with more banks joining and a higher volume of transactions,” said governing board member Antione Martin, whose comments at the the Point Zero Forum in Zurich on Wednesday (July 3) were reported by...
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Swiss National Bank Chairman Says Retail CBDC Too Risky
Swiss National Bank (SNB) Chairman Thomas Jordan said Monday (April 8) that the risks of a central bank digital currency (CBDC) issued to the general public would outweigh any potential benefits. Speaking at an event in Zurich, Jordan said both consumers and businesses have access to a wide range of payment instruments offered by the private sector, and...