The Czech National Bank (CNB) has become the first central bank in the world to confirm it holds Bitcoin. The bank disclosed it has created a $1 million test portfolio that includes Bitcoin, a U.S. dollar-pegged stablecoin, and a tokenized deposit. The portfolio, approved by the CNB board on October 30, is designed to explore blockchain-based financial instruments and evaluate their future use within central banking operations.
This portfolio is not part of the CNB’s official international reserves and will not be actively expanded. It was created for research purposes and is held entirely outside the traditional asset structures used for monetary policy or foreign exchange interventions. The bank stated that the trial will run for two to three years, with findings shared during and after the period.
Read also: Czech Republic Removes Crypto Taxes for Long-Term Holders
Testing Infrastructure and Risk Management
According to CNB officials, the purpose of this move is to gain practical experience with digital assets. The test covers all stages of working with cryptocurrencies and tokenized assets – from custody and key management to compliance checks and crisis simulations.
The bank is using this experiment to train staff and develop internal expertise, aiming to understand how such assets could impact core functions like settlement, reporting, and risk oversight. The digital assets were purchased through a regulated exchange and the entire setup complies with both Czech and EU laws.
CNB Governor Aleš Michl explained that he proposed the idea in early 2025 as part of a broader vision to modernize the bank’s operations. He believes that tokenized financial instruments could eventually become part of everyday life, similar to current instant payment systems. The test portfolio, he said, is a step toward preparing for that future.
Read also: Poland Rejects Bitcoin Reserves, But Is the Idea Completely Dead?
Not Part of Official Reserves – Yet
The CNB clarified that this move should not be seen as a signal that Bitcoin or other digital assets will become part of its official reserves in the near future. The portfolio was intentionally kept small – about 0.0006% of the bank’s reserves – to limit exposure while still allowing for real-world testing.
The European Central Bank has been skeptical about using Bitcoin in reserve strategies. ECB President Christine Lagarde previously dismissed the idea of EU central banks holding Bitcoin. However, because the Czech Republic does not use the euro, the CNB has more flexibility to experiment independently.
Read also: South Korea’s Central Bank Says ‘No’ to Bitcoin Reserve – Here’s Why
A Step Toward Future Financial Systems
Alongside the portfolio, the CNB also launched the CNB Lab, a new initiative focused on testing technologies that may affect financial markets and monetary policy. This includes artificial intelligence tools and payment innovations in addition to blockchain.
The Czech central bank’s test portfolio is a small move in financial terms, but it reflects a wider shift in how institutions are approaching blockchain technology. Rather than relying solely on academic analysis, the CNB is engaging directly with these systems, preparing itself ahead of many of its peers.
