worldcoinindex.com
The Czech National Bank has taken its first concrete step into the digital-asset arena, unveiling a $1 million blockchain “test portfolio” designed to give the institution hands-on experience with the technologies shaping the future of finance. The experimental basket—comprised of bitcoin, a USD-denominated stablecoin, and a tokenized bank deposit—marks the first time the CNB has directly purchased crypto assets.
The initiative, formally approved on October 30, is intentionally separate from the Czech Republic’s official international reserves. According to the central bank, the project is not a prelude to an immediate policy overhaul but a controlled trial meant to deepen its technical and operational expertise.
Governor Aleš Michl said the original goal was to examine bitcoin’s decentralized architecture from a central-bank perspective, particularly its potential for diversification. Internal debate soon expanded the scope to assess tokenized financial products and the evolution of payment systems. The CNB plans to update the public periodically and issue a full evaluation within two to three years.
Executives emphasized that the test portfolio is more about practical learning than financial gain. The project will allow the bank to evaluate storage, settlement, accounting, AML procedures, and crisis protocols—areas where theoretical knowledge gives way to subtle, real-world complexities. The central bank noted that developing internal know-how is now essential as tokenization and programmable money accelerate globally.
Michl stressed that the koruna remains the country’s only legal tender and that the digital-asset experiment has no influence on monetary policy or FX operations. The small portfolio size ensures market volatility poses no financial risk. Still, he reiterated a warning to would-be investors: bitcoin’s price swings can be substantial and should not be underestimated.
The launch coincides with the debut of CNB Lab, an innovation hub created to explore technologies that could impact financial markets and central-bank mandates—including AI, blockchain, and next-generation payment infrastructure. The Lab aims to give the bank a professional sandbox to study fast-moving trends rather than simply relying on external research.
This test portfolio follows a year of exploratory steps. In early 2025, Michl suggested that up to 5% of the institution’s €140 billion reserves could potentially be allocated to bitcoin, though the board has not adopted that idea. Instead, the CNB opted for controlled experimentation. It also revealed in July an $18 million purchase of Coinbase stock as part of its diversification strategy.
While the move does not constitute a shift toward crypto-backed reserves, it does mark a historic milestone: the first confirmed instance of a central bank purchasing bitcoin directly—albeit in test form.