The Banque de France noted : “The lessons learned from these experiments will constitute a direct contribution to the more global reflection led by the Eurosystem on the interest of a central bank digital currency.”
The Banque de France, France’s central bank, revealed Monday that it had selected eight applicants as part of a wide-ranging effort to test digital currency solutions.
In a July 20 statement, the central bank said that the experiments would cover a number of areas — though notably not the realm of crypto-asset transfer — and would commence “in the coming days.” The list of candidates includes several major banks among other firms:
- Seba Bank
- Societe Generale’s Forge
“The experiments proposed by the selected candidates will allow (i) to explore new methods of exchanging financial instruments (excluding crypto-assets) for central bank money, (ii) to test the regulation in digital central bank money in order to improve the conditions for carrying out cross-border payments and (iii) revisit the arrangements for making central bank money available,” the Banque said in a translated statement.
The Block previously reported on the French central bank’s testing of a digital euro. The Banque du France conducted that experiment with Societe Generale, one of the new program’s participants. Societe Generale has pursued a number of blockchain-focused projects, including the tokenization of assets, as reported by The Block’s Yogita Khatri.