Banque de France has listed 8 potential candidates to test the integration of a CBDC for interbank settlements, consistent with the announcement published earlier today.
The list of approved participants embody mainstream juggernauts like Accenture, HSBC, and Societe Generale, along with smaller crypto players like Seba Bank and LiquidShare.
The announcement follows the central bank’s involve applications to experiment with the utilization of a digital euro, that it posted earlier in March. At the reporting time, the institution said it might select a max of 10 CBDC-related applications, with “innovative nature” being one among the main selection criteria.
Now, the French central bank will initiate working with each of the 8 players on their proposed experiments “over the approaching months”, getting to explore “new methods of exchanging financial instruments”. Additionally, the pilot projects will attempt to establish how CBDCs are often distributed and used for cross-border payments.
Moreover, Banque de France seems to be researching wholesale instead of retail uses for a digital euro, meaning that the CBDC be designed for “interbank regulations”, not consumer purposes.
France At Forefront Of European CBDC
France has been at the forefront of European CBDC experiments for now. Earlier in May, it became the primary country to successfully trial a digital euro on a blockchain as a part of its ongoing project with Societe Generale.
Although it’s not clear if France’s experiments with CBDC will ever be adopted on the EU scale, its central bank has recently been chosen to represent the Eurosystem along side the Deutsche Bundesbank as a part of the Bank for global Settlements’ global “BIS Innovation Hub” network.