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Trend of Tokenization Series: Is Swiss National Bank Contemplating ‘Franc Token’?
The trend of tokenization across the globe and across all the industries is striking a chord day-by-day, we’ve seen tokenization for investment classes both in equities and bond segments in the recent past.
Before proceeding further to the core part of this write-up, let’s just quickly glance at the categories and characteristics tokens that resembles the conventional financial instruments, like, shares, debentures or units in a collective investment scheme.
Of-late, the segment of tokenization lures the shrewd investors with the improved utility and exponential returns (yields flashes in 3 digits in percentage terms, be it exchange or security tokens).
A national cryptocurrency has been an idea that many countries have either played with or are playing with at press time.
In the past, Sweden’s central came up with an idea of e-krona as their cryptocurrency, for further details on the same, e-krona’s first interim report on the Swedish national banks: https://www.riksbank.se/en-gb/financial-stability/the-financial-system/payments/does-sweden-need-an-e-krona/the-e-krona-projects-first-interim-report/
For now, Switzerland is also joining the league and contemplating the probability of a “cashless” economy and its prospects.
On this perspective, Avenir Suisse, which is the country’s one of the largest and prominent think tanks released a report stating the Swiss National Bank (SNB) thinking to develop a national cryptocurrency. Wherein, it runs us through the creation of a national cryptocurrency for Switzerland: “It would facilitate tokenized securities trading if the Central Bank and major players in the industry were to drive the development of a Swiss franc token. If it manages to position itself internationally as a pioneer in trading tokenized securities, Switzerland will be able to expand its relatively small capital market.
While the regulators across the globe raise a cautionary statement that the token categories are not mutually exclusive, suppose that a token issued as a utility token can also transform into an exchange token over the timespan. Quite a few tech-savvies perceive this property of tokenization mechanism as an apprehensive thing to consider. We run you through some underlying prices of exchange tokens that have been eye-catchy.
Elsewhere, the French-based credit institution Societe Generale SFH, which is a subsidiary of one of Europe's largest financial services groups, Societe Generale Group, issued a 100 million euro ($112 million) bond as a security token form on the Ethereum (ETH) blockchain in the recent past. Societe Generale SFH went on with its debut pilot project on ethereum blockchain in collaboration with Societe Generale FORGE.
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