Central Bank Of France Picks Out 8 Potential Candidates For Digital Euro Pilot
Central Bank Of France Picks Out 8 Potential Candidates For Digital Euro Pilot
July 21, 2020
Central Bank Of France Picks Out 8 Potential Candidates For Digital Euro Pilot
Central Bank Of France Picks Out 8 Potential Candidates For Digital Euro Pilot
July 21, 2020

The central bank of France, Banque de France has announced that it has picked out eight potential candidates to test trail its digital euro.

According to an announcement on 20. July, the potential candidates include leading industry players such as Accenture, HSBC, and Societe Generale.

Small crypto players like Seba Bank and LiquidShare are also among the list.

In March, Banque de France called out applicants to experiment with its digital euro.

The announcement had initially considered for 10 applicants for its CBDC project with “innovative nature” being one of the main selection criteria.

Cut to the present, the central bank will start working with eight major players over the “next months” on the proposed CBDC trial to explore “new methods of exchanging financial instruments”.

ALSO READ :  Equigy Expands Its Operations In The European Union

The test trial will start on establishing how central bank digital currencies can be used for cross border payments.

Reportedly, the central bank might research on wholesale use rather than retail for its digital euro. It means that the central bank digital currency is for “interbank regulations”, not consumer purposes.

France has always been the frontrunner in European CBDC experiments.

In May, France successfully trialed a digital euro on the blockchain, becoming one of the first countries to do so as a part of its ongoing project with the Societe Generale project.

Although it is not known whether its experiments will ever be adopted in European Union, its central bank has been chosen to represent the Eurosystem along with the Deutsche Bundesbank as part of the Bank for International Settlements’ global “BIS Innovation Hub” network.


Source: Cointelegraph | Image: Unsplash

Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!