Digital Euro, Swiss Franc Trial Successful, C.banks Says


Benoit Coeure, director of the European Central Bank (ECB) during an interview at the ECB headquarters in Frankfurt on May 17, 2017. (KaiPfaffenbach / Reuters)

Zurich — Europe’s first cross-border trial on central bank digital currency payments has been described as successful by the Swiss and French central banks, but states that it will not immediately lead to the issuance of the CBDC.

Named after the mountain between the two countries, Project Jura is the latest in a series of CBDC trials conducted by a central bank dedicated to refuting the threat from crypto assets.

“Project Jura confirms that a well-designed wholesale CBDC can play an important role as a safe and neutral settlement asset for international financial transactions,” said the Bank for International Settlements Innovation Hub. Responsible Benoit Coeuré said.

For the first time, the digital euro and the Swiss franc have been fully tested in this test, which includes the settlement of foreign exchange transactions at the euro and Swiss franc wholesale CBDC, and the issuance, redemption and transfer of tokenized euro-denominated French commercial papers. It was shown to be possible. Financial institution.

John Revil