The Central Bank of France announced that it successfully completed the first transaction in a pilot project to create a CBDC. Banque de France ran a full billing cycle with British payments public services provider SETL. It was SETL who provided the infrastructure based on the distributed ledger and organized the transactions.
In an experiment, Banque de France simulated a €2 million remittance using CBDC. To do this, they first issued and then redeemed the shares of the money market of Groupama Enterprises. Citi and CACEIS partners ensured the safety of funds.
The central bank of France has been developing its own cryptocurrency for some time and even examined it in real conditions with Société Générale. They even named 7 key partners for the project, including IZNES, ID2S, and SETL.
We will remind you – the IMF recently voiced the opinion that the launch of CBDC will become a serious legal problem for many central banks. Meanwhile, the Fed is talking about the possible launch of a digital dollar, not earlier than in a few years. Meanwhile, China is already building an international payment system with the integration of national cryptocurrencies.
