Zero Hedge
By Tyler Durden – November 25, 2023
On Monday the Canton of Zurich issued a CHF 100 million ($113m) digital bond via the SIX Digital Exchange, Ledger Insights reported. While most of the bond terms were unexciting – it has an 11 year term and a coupon of 1.45% – the most distinctive aspect is this transaction is that it settles using a wholesale central bank digital currency (wholesale CBDC) issued by the Swiss National Bank (SNB).
The joint lead managers on the issuance were Zürcher Kantonalbank, UBS and Raiffeisen Switzerland. Zürcher and UBS were announced as part of the CBDC pilot earlier this month, but Raiffeisen was not.