Swiss Interbank Clearing
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The Swiss Interbank Clearing (SIC) system is a mechanism for the clearing of domestic and international payments.[1]
Since 1987, the SIC system has been operated by SIX Interbank Clearing AG (100% owner of the SIC) on behalf of the Swiss National Bank.[1]
By 2018, 325 financial institutions (national and international) participated in the SIC. The system process an average of 2.4 million transactions every day for an average transaction volume of CHF 156 billion. The majority of cashless transactions in Switzerand are settled through the SIC.[1] At the end of 2019, the Swiss National Bank launched a new service to clear digital currency transactions, and developed its own blockchain-based digital currency to make this service interoperable with the SIC. The service, which aims to incorporate virtual central bank funds into a distributed ledger technology, was first launched in Switzerland, Singapore and Hong Kong.[2][3]
References
- ^ a b c "The Swiss Interbank Clearing (SIC) payment system" (PDF). Snb.ch. November 2019. Retrieved 7 January 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "Swiss National Bank and BIS use innovation hub to explore digital central bank money and DLT". Finextra Research. 2019-10-08. Retrieved 2020-01-07.
- ^ Muthoni, Grace. "Central Bank of Switzerland Has Opened up a Hub for Crypto Trading | Crypto-News.net". Retrieved 2020-01-07.
See also
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