1 week ago
1 min read
Swiss Bankers Association Pushes for Deposit Tokens to Boost Digital Economy
The Swiss Bankers Association has published a white paper that outlines how Swiss banks can contribute to the development of the country’s digital economy. The group has suggested a Swiss franc “joint” deposit token as a solution. According to the paper, stablecoins have limited penetration in the Swiss financial system despite end-to-end digitization becoming more common in business models. Additionally, there are no Swiss stablecoins that are accessible by the general public. The white paper suggests a deposit token that is “issued by regulated and adequately supervised intermediaries” and redeemed by smart contracts denominated in Swiss francs. The token could