According to ChainCatcher and ledgerinsights, the Swiss National Bank (SNB) has pioneered its pilot wholesale Central Bank Digital Currency (wCBDC) for settling tokenized securities transactions on the SIX Digital Exchange (SDX). The Swiss National Bank recently released its annual report, which outlined other related activities, including exploring synthetic CBDC, a privately tokenized currency backed by central bank funds.

The Swiss Central Bank described this tokenized private currency as one of three options for DLT settlement it is considering. Another option is wCBDC. The third option is a connection between the SIC payment system and the DLT system, which was previously tested in its Project Helvetia CBDC exploration.

The Swiss Central Bank reiterated that it has not committed to issuing a permanent wCBDC, nor does it lean towards any particular solution, but is merely evaluating various options at the current stage.