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SIX, Swiss central bank team up to explore digital currency possibilities

Switzerland's stock exchange group and central bank are working together to explore uses of central bank digital currency.

SIX Digital Exchange, SIX Group AG's exchange and depository for digital assets, is working with the Swiss National Bank to look into the possibility of making digital central bank money available for the trading and settlement of tokenized assets between financial institutions as part of a feasibility study.

The news comes at a time when there has been widespread speculation about whether central banks across the world will issue their own digital currencies following Facebook Inc.'s announcement in June of its plans to launch Libra, a so-called stablecoin.

The study is being carried out under the banner of the Bank for International Settlements at its Swiss hub.

SIX Digital Exchange will make its platform available to explore the technical possibilities for integrating digital central bank money into distributed ledger platforms.