<\/p>\n
Thomas Jordan, chairman of the Swiss National Bank (SNB), reportedly believes that the risks of a retail central bank digital currency (CBDC) outweigh the benefits.<\/p>\n
While speaking at an event in Zurich, Jordan said the SNB doesn\u2019t think there is a need to roll out a CBDC to the public right now, Reuters reports<\/a>.<\/p>\n \u201cConsumers and businesses already have access to a wide range of efficient and innovative payment instruments offered by the private sector.<\/em><\/p>\n Retail CBDC could fundamentally alter the current monetary system and the role of central banks and commercial banks, with far-reaching consequences for the financial system.\u201d<\/em><\/p>\n Last year, the SNB launched<\/a> a \u201cwholesale\u201d central bank digital currency pilot program. Wholesale CBDCs are restricted to large transactions between financial institutions.<\/p>\n Said Jordan at the time,<\/p>\n \u201cThis is not just an experiment, it will be real money equivalent to bank reserves and the objective is to test real transactions with market participants\u2026<\/em><\/p>\n We do not exclude that we will never introduce retail [CBDCs] but nevertheless, we are a little bit prudent at the moment.\u201d<\/em><\/p>\n This week, Jordan said Swiss franc wholesale CBDCs \u201ccan be issued on a third-party platform and used to settle tokenized assets safely and efficiently.\u201d<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Thomas Jordan, chairman of the Swiss National Bank (SNB), reportedly believes that the risks of a retail central bank digital currency (CBDC) outweigh the benefits. While speaking at an event in Zurich, Jordan said the SNB doesn\u2019t think there is a need to roll out a CBDC to the public right now, Reuters reports. \u201cConsumers […]<\/p>\n","protected":false},"author":2,"featured_media":281224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-281223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/281223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=281223"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/281223\/revisions"}],"predecessor-version":[{"id":281226,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/281223\/revisions\/281226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/281224"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=281223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=281223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=281223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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