The success of the world's first cross-border CBDC test is no accident.

The CBDC wholesale trial joint venture by the Bank for International Settlements (BIS), the Banque de France (BdF) and the Swiss National Bank (SNB) has been completed, resulting in a digital bank (CBDC) well. As wholesale CBDCs have established, decision-making can play an important role as a security and medium-term asset for the global financial market. This would be the world's first cross-border CBDC experiment, which will support and facilitate the development of digital advantages.

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According to BIS data, out of 66 banks around the world, 80% of the average bank say they operate on digital devices, and around 20% of banks on average say they will be able to distribute digital money in years to come. But why was the first CBDC cross-border experiment carried out by BIS, BdF and SNB?

In 2018, the BIS came up with the concept of a "digital fiat business" (this is a banking conference), which has been supported by many banks in the middle since its launch, said wholesale digital fiat should be the first. The introduction of wholesale CBDCs for bank payments can improve payment performance and reduce risk management. This was discussed in the article “Digital Fiat Marketing (W-CBDC): Interpretation of Fnality White Paper” published in 2019. BIS is a pioneer of global “CBDC sales”.

Bank for International Settlement (BIS)

The Swiss National Bank is a Swiss financial institution and is part of the Swiss Federal Government. Also in 2018, the Swiss Federal Government published a document entitled "Swiss Distributed Ledger Technology and Blockchain Legal Framework-A Framework Related to Financial Markets". Notice: Symbolic payment is required. Switzerland is a country dedicated to digital products. Other central banks have been pushing the world in the direction of creating the “digital products law,” the first law for digital assets as they launch their own digital assets. Legal environment Set up a solid and digital marketing tool. The Swiss Republic is a pioneer in the world of digital assets.

Swiss government

If digital assets and digital assets are to change the financial system, they must first change the technology of financial production. ). CSD is an important factor in a country's economy, and if the system slows down, it will affect the majority of a country's economy, and changes in CSD will alter the financial infrastructure of the entire country. In 2019, a UK tech company, led by a French bank, developed a blockchain-based CSD system. This concept was proposed by the Bank of England but was developed by the Bank of France. The French bank is a pioneer in the global blockchain-based CSD system.

Banque Fabkis

It is no coincidence that the concept of evolution, the development of digital assets, the development of CSD systems and the world's first cross-border CBDC experiment proclaimed success, and modern success comes from a layout. many years ago.