SNB Unveils New Banknote Design Winner Days Ahead of Cash Vote

(Bloomberg) — The Swiss National Bank unveiled the designer of its new banknotes, days before the country votes on whether to enshrine cash in its constitution.

The new bills, which are expected to be introduced at the beginning of the 2030s at the earliest, will be designed by Emphase Ltd. and prominently feature some of Switzerland’s most famous landscapes, the SNB said in a statement Wednesday.

While cash usage is in decline as more people use card and digital payment methods, physical notes and coins remain popular in Switzerland. The lower daily use of physical money prompted a group of campaigners to launch a popular vote to oblige the government to ensure that coins and banknotes are always available in sufficient quantities. Polls suggest that a version of the proposal looks set to be approved in the ballot this Sunday

“The SNB is convinced that cash will continue to play an important role as a payment method and store of value in the future,” it said Wednesday. “Ongoing development of security technology and banknote redesign are therefore crucial.”

The theme of the new banknotes is be “Switzerland and its altitudes.” The Emphase design includes features of the Swiss lowlands, the Central Plateau, the Jura and Alps.

The SNB took the final decision after a preliminary selection, including a public online survey, whittled down the proposals to six designs.

The new series will again feature a 1,000-franc note, which is equivalent to about $1,280 and among the most valuable single bills in the world. There has been repeated criticism that its continuous use opens doors for illicit activities such as money laundering or tax evasion.

–With assistance from Bastian Benrath-Wright.

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