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French Central Bank Announces Candidates To Trial CBDC
Summary: The Central Bank of France released a list of eight candidates to trial a central backed digital currency (CBDC) for interbank settlements, according to a release on Monday, July 20. During the application phase, companies submitted proposals for experimental programs using a CBDC. The Banque de France then chose their eight top proposals. Applicants selected to ...
The Central Bank of France released a list of eight candidates to trial a central backed digital currency (CBDC) for interbank settlements, according to a release on Monday, July 20.
During the application phase, companies submitted proposals for experimental programs using a CBDC. The Banque de France then chose their eight top proposals. Applicants selected to move forward with their proposals include HSBC, Accenture and Seba Bank.
The goals of the trials are to explore new methods of transferring financial products and test the use of CBDCs during international transactions.
The release noted that the goal of this program is not to explore the use of cryptocurrencies. The Banque de France hopes these experiments will help craft a pathway to creating higher functioning banks, particularly when it comes to interbank regulations.
By Emily Mason
Tags: Banque de France,CBDC
Link: French Central Bank Announces Candidates To Trial CBDC [Copy]
