Deployments · SIX Digital Exchange (SDX) · platform by SIX

Canton of Basel-Stadt digital bond on SDXUpdated 28 Oct 2026

The Canton of Basel-Stadt's first digital bond, a four-year CHF 105 million public issue brought by Basler Kantonalbank on SIX Digital Exchange in late 2023. Investors could pay in Swiss franc wholesale CBDC issued by the Swiss National Bank in its Helvetia III pilot, which the canton described as the SNB's first issue of real wholesale CBDC on SDX.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since Nov 2023^[1] — Single issue; the exact settlement date differs slightly between sources. · Reviewed 14d ago

Assets: Debt security^[1]
Four-year CHF cantonal bond
Networks: SIX digital assets ledger Private, permissioned^[1]
Use cases: Primary issuance^[1]Delivery versus payment (DvP)^[2]
Jurisdictions: Switzerland

Participants

Canton of Basel-StadtIssuer^[1]Switzerland
Basler KantonalbankDistributor, Arranger or dealer^[1][4]Switzerland
Swiss National BankCash leg provider^[1]Switzerland
SIXPlatform provider, Operator, Depositary or trustee^[1]Switzerland
HomburgerLegal or professional adviser^[5]Switzerland

Operates under

FINMA licences for SIX Digital Exchange AG (central securities depository) and SDX Trading AG (stock exchange)Switzerland · Licence or charter^[3]

Likely relevant regulation

Swiss DLT Act (Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology)Switzerland

Assets

IssuesCanton of Basel-Stadt CHF 105m 4-year digital bond on SDX, 2023^[1]

Metrics

CHF 105mDigital bonds issued · as of Nov 2023^[1]

Timeline

Happened 15 Nov 2023 · Launch · recorded 11 Oct 2026
Basel-Stadt launches a CHF 105 million four-year digital bond on SDX, payable in wholesale CBDC.^[1]

Sources

[1]Basel-Stadt lanciert erste digitale Anleihe — Canton of Basel-Stadt, Finance Department, 15 Nov 2023. Accessed 11 Oct 2026.A
[2]Swiss Digital Bonds Settled with Wholesale CBDC — Markets Media, 13 Mar 2024. Accessed 11 Oct 2026.C
[3]FINMA issues first-ever approval for a stock exchange and a central securities depository for the trading of tokens — FINMA. Accessed 12 Oct 2026.A
[4]BKB emittiert für den Kanton Basel-Stadt erstmals eine digitale Anleihe, die mit digitalem Schweizer Franken erworben werden kann — Basler Kantonalbank (EQS News via Börse Online), 15 Nov 2023. Accessed 28 Oct 2026. In German; our summary is translated.B
[5]Homburger advised Basler Kantonalbank in connection with the issuance of CHF 105 m Digital Bonds by the Canton of Basel-Stadt — Homburger, 7 Dec 2023. Accessed 28 Oct 2026.C

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