Banque de France will build a central bank digital currency in partnership with Soc Gen, HSBC and six other partners

Banque de France announced a list partners with which it will build a central bank digital currency. The bank called for applications to experiment the use of central bank digital currency for interbank settlements.

The 8 applications selected included:

  • Accenture
  • Euroclear
  • HSBC
  • Iznes
  • LiquidShare
  • ProsperUS
  • Seba Bank
  • Société Générale – Forge

The selected applicants will propose experiments which will allow exploration of new ways to exchange financial instruments (excluding crypto-assets) for central bank money. The experiments will also be testing the settlement in central bank digital currency to improve executing conditions for cross-border payments and revising the arrangements for making central bank money available.

Banque de France shares list of partners with which it will build a central bank digital currency

The conclusions and results from these experiments will directly contribute to the more global reflection conducted by the Eurosystem on the value of a central bank digital currency.

Todd McDonald, Chief Product Officer at R3, said:

Todd McDonald, R3

Todd McDonald
Source: LinkedIn

The digital Euro project is a unique and ambitious undertaking. The Euro was a major innovation itself, so it seems fitting that Europe be at the forefront of the next phase of central bank money, the central bank digital currency (CBDC).

Corda is fast becoming the blockchain of choice for CBDC experimentation. It is the only technology out there currently which can simultaneously provide the level of scale and security needed to make CBDCs a reality. We’re excited to embark on this project with Banque de France and these eight world-class organisations to show how CBDCs can work in France and move one step closer to seeing the implementation of CBDCs.

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