Project Jura — Joint ventures project of The Swiss National Bank, the Banque de France, and the BIS Innovation Hub (Bank for International Settlements)
Wednesday, 30 June, 2021
The Swiss National Bank, the Banque de France, and the BIS Innovation Hub (Bank for International Settlements) announced they will have joint ventures project regarding digital currencies.
What will Project Jura explore?
- A cross-border settlement with two wholesale CBDCs (Central Bank Digital Currency) and a French digital financial instrument on a distributed ledger technology (DLT) platform
- The exchange of the financial instrument against a euro wholesale CBDC through a delivery versus payment (DvP) settlement mechanism
- The exchange of a euro wholesale CBDC against a Swiss franc wholesale CBDC through a payment versus payment (PvP) settlement mechanism.
This is a great advance for cryptocurrencies; surely many companies will hold meetings to determine whether or not to include cryptocurrencies in their assets.
Limited Liability Companies (LLPs) and Public Companies (PCs) are under consideration, while independent investors and/or partnerships will do so without thinking a lot.
It was stated that the project is of exploratory impetus and should not be construed as a definite plan by the Swiss National Bank or the Banque de France to issue wholesale CBDCs.
Sources:
