The Bank of France carried out some bond transactions using blockchain technology as part of digital currency tests.
The Bank of France’s 10-month pilot study evaluated how useful a digital central bank currency could be for bond issuance, repo and redemption transactions.
BNB Paribas, Crédit Agricole CIB, HSBC and Société Générale participated in the work led by the international clearing and custody organization Euroclear and carried out as a consortium.
Members of the consortium, security token Transactions were made with the government bonds, which were converted into a settlement, with the digital currency of the Bank of France.
As part of the pilot, nearly 500 trading orders were implemented in the primary and secondary markets, the Financial Times reported on Tuesday.
Isabelle Delorme, Euroclear’s head of development and innovation, “Together, we have been able to quantify the core benefits of this technology and reconcile digital central bank coins, central bank money. able to safely We have reached the conclusion.” what he said was conveyed.
The Bank of France, which started a program in March 2020 in order to evaluate the different uses of digital central bank currencies, has carried out various studies at the national and international level since then.