Extended Testing Period
The Swiss National Bank (SNB) extended its digital franc testing for two more years to explore new use cases.
Reasons for Extension
This decision aims to analyze the digital franc’s potential. The SNB will investigate new application scenarios to understand its integration and improvement of the existing financial system.
Global Trend
The testing aligns with the global trend of central banks developing digital currencies. These efforts seek to enhance the security and efficiency of payment systems and counter the rise of private cryptocurrencies.
Commitment to Innovation
Extending the testing period shows Switzerland’s commitment to financial technology innovation. The SNB aims to stay at the forefront of financial advancements.
