#Switzerland has chosen the wholesale route to CBDC.

The nation's choice to go down the path of a wholesale #CBDC contrasts with its neighbors in the #UK and #EU , which have worked on a retail option. Although, the choice is in line with Switzerland's image as a financial services center.

However, the share of GDP accounted for by financial and insurance services is in long-term decline. The sector had a 9% share last year, down from 10% in 2011.

Earlier this year, the #EuropeanCentralBank backtracked on plans to make its digital euro programmable.

In a mock interview with a supposed Ukrainian president, Volodymyr Zelenskyy, ECB head Christine Lagarde said there would be a "limited amount of control" over how it could be spent.