Project Helvetia - Settling Tokenised Assets in Central Bank Money

Researcher(s)

Fabio Wieser, Mirjam Eggen

Date of Talk

Bio

Fabio Wieser is the Policy Analyst in the Banking Operations Analysis division, topics include CBDC, FinTech and payments. BIS Innovation Hub coordinator on SNB side.

Prof. Dr. iur. Mirjam Eggen is a full professor at the University of Bern. Her research focuses on contract and securities law. She is particularly concerned with contractual relations between consumers and suppliers of digital services and legal relations in new technologies. She also examines the interface between the regulation of financial markets under private and supervisory law. She was involved as an expert in the creation of the DLT act in Switzerland and has written several expert reports for the Swiss Federal Department of Justice and other Swiss authorities. Since June 2022, she has been President of the Swiss Takeover Board.

Abstract

The introduction of a Central Bank Digital Currency (CBDC) sounds promising and is currently being addressed by academia, but also by the central banks themselves. Project Helvetia was a multi-phase investigation by the BIS Innovation Hub, the Swiss National Bank (SNB) and the Swiss financial infrastructure operator SIX. The project explored how central banks could offer settlement in central bank money in a future with more tokenised financial assets based on distributed ledger technology (DLT), focusing on operational, legal and policy questions. The project built on the test environments of the Swiss real-time gross settlement system SIC and SDX, a regulated and live platform for the trading and settlement of tokenised assets.

External Link

Read the Research Paper

First Nations land acknowledegement

We acknowledge that the UBC Point Grey campus is situated on the traditional, ancestral, and unceded territory of the xʷməθkʷəy̓əm.


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