Central Bank of Banks BIS to Trial Digital Currency by Year’s End

[Galaxy]

The Bank of International Settlements is working with the central bank of Switzerland to develop of digital currency proof of concept. An executive at the Bank for International Settlements, a consortium that comprises most of the world’s top central banks, said today that the BIS is working on a central bank digital currency pilot with Switzerland’s central bank.

“By the end of this year, we plan to publish our first wholesale CBDC proof-of-concept with the Swiss central bank,” said Benoît Cœuré, head of the BIS’s Innovation Hub, in a speech at the Shanghai Bund Summit (Cœuré dialed in).
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