Swiss banks explore digital Swiss francs, financial innovation is upgraded again! 🇨🇭

Recently, major Swiss banks PostFinance, UBS and Sygnum have joined forces to explore the feasibility of digital Swiss francs. This project, led by the Swiss Bankers Association (SBVg), aims to enhance Switzerland's competitiveness in the digital economy by modernizing the financial system.

The project is called "Digitale Währungen", or "digital currency", and is supported by major Swiss banks. The banks signed a memorandum of understanding (MoU) to jointly conduct a proof of concept (PoC) for digital Swiss franc deposit tokens.

A deposit token is a blockchain-based payment method similar to a traditional deposit. It allows bank customers to trade on a new innovative payment platform using distributed ledger technology (DLT) and smart contracts. Initially, the deposit token PoC will focus on simple payments and deliveries between participating banks, as well as payment transactions with custody functions.

Although the market attitude is neutral, Bitcoin remains the focus of our optimism. 🚀