The Helvetia Phase III pilot will create a tokenized version of the franc as a settlement instrument between financial institutions for digital assets on the exchange.
The first tier of customers will be wealth-management clients; retail customers are next in line, and other coins and staking services are planned, said SEBA Bank's Christian Bieri.
The Universal Digital Payments Network instructs and allows transactions, ranging from stablecoins on public blockchains to central bank digital currencies.
The FDIC's watchdog concluded the agency has been lax in figuring out how to guide U.S. bankers on crypto matters, and it called for a new strategy by January.