Central banks announced on Thursday that the Swiss National Bank and the Banque de France will test the first cross-border digital currency payments. An initiative that will be a first for two of the world's main currencies. The Swiss banks UBS and Credit Suisse and the French company Natixis are participating in the project, along with the Swiss stock exchange operator SIX Digital Exchange, the fintech company R3 and the innovation center of the Bank for International Settlements. The experiment will focus on the market for “wholesale” loans between banks rather than on daily public transactions, but it will be the first time that a digital euro and a Swiss franc will be fully tested

“The Bank of France is convinced of the potential advantages of the wholesale central bank digital currency to offer maximum security and efficiency in financial transactions,” said Sylvie Goulard, Deputy Governor of the Banque de France. The collaboration between the two central banks has been named Jura, after the mountain range that separates Switzerland and France. With this technology, payments will be nearly instantaneous, but both central banks will need to approve them digitally before they can be