The Central Bank of France has selected partners with whom it will test the Central Bank’s cryptocurrency. Among them are Accenture, HSBC, Seba Bank and other participants in the fintech and blockchain industry.
The bank began recruiting candidates to experiment with the government stablecoin back in March. The testing participants will be the consulting company Accenture, banks HSBC and Seba Bank, the clearing and settlement services company Euroclear, ProsperUS, as well as a subsidiary of Societe Generale – Forge. Experiments with the state cryptocurrency will also be carried out by the Iznes and LiquidSharem blockchain platforms.
The Central Bank of France wants to consider new methods and financial instruments that will allow cross-border payments with state cryptocurrency, but this should happen without the participation of conventional crypto assets. The bank explained that the solutions developed by the selected candidates should be aimed at the practical use of the digital currency of the Central Bank, and may not be limited to one blockchain.
The Banque de France announced that its digital currency will be used for interbank settlements, and joint research with selected partners will contribute to the development of a digital euro that targets institutional clients. In May, the French Central Bank announced the successful testing of the blockchain-based digital euro.
Earlier, the chairman of the Bank of France, François Villeroy de Galhau, said that digital currencies should be issued only by central banks, and not by private firms, so that states do not lose control over the issue of currency.