Although France, one of the leading economies of Europe, has a tough attitude towards the crypto money sector, the central bank continues to take a step towards digital currency.
France announced that it has completed a 10-month central bank-backed digital currency experiment and also presented its report on it.
France Completes CBDC Studies
finance company Euroclear This project, carried out by the company, was commemorated with the participation of the country’s largest banks.
Last year, the Bank of France emphasized that it would start a project for the French financial market by partnering with the Belgium-based financial company Euroclear.
According to the report cited by the Financial Times, the institutions involved in the project traded government bonds and paid in return with CBDC, the central bank digital currency. The 10-month pilot program was successful according to the information conveyed.
The project also measured the use of cryptocurrencies or digital tokens in daily activities.
This included coupon payments, debt payments, new bond payments and daily shopping payments. Those involved in the pilot program include Société Générale, BNP Paribas, and Crédit Agricole CIB.
In addition to these, it is stated that the technological infrastructure is prepared by IBM.
Although there is no clear information about the crypto money experiments, it is stated that the CBDC experiments were successful. This means that we may see France’s own digital currency in the coming months.