Swiss bankers are paying attention to the latest digital currency options.
The Swiss Bankers Association released a white paper on how Swiss banks can support the development of the country’s digital economy. A Swiss franc “joint” deposit token is the solution the group settled on.
The paper identifies three design options for a deposit token: Standardized tokens that any commercial bank can issue with a uniform standard, colored tokens that are issued by commercial banks to any standards they choose, and joint tokens that are issued by a licensed and supervised special purpose vehicle consisting of participating banks. The authors prefer the last choice.
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