France, one of Europe’s leading economies – reportedly conducting a 10-month trial of the CBDC, aiming to test how central bank digital currencies will interact with government bonds. Financial services company Euroclear is leading the project. and the largest banks in the country are participating.
followreportMost recently, the Financial Times has traded government bonds and settled transactions with central bank-issued CBDCs during a 10-month trial period.
The project also tested the usefulness of such digital tokens in daily activities such as paying coupons, redeeming offers. issuing new bonds and its use in repurchase agreements
Some of the big companies in the alliance include Société Générale, BNP Paribas and Crédit Agricole CIB, while American multinational technology company IBM. It has developed a system for experimentation, said Soren Mortensen, IBM’s global director of financial markets.
“This project has gone further than before. It has successfully tested the central depository process and most central bank processes. while eliminating current procedures such as reconciliation between market intermediaries.”
Isabelle Delorme – Deputy Chief Executive Officer of Euroclear France – also conveyed her idea that the collaboration between those institutions was successful. because they have shown that “Central digital currency can secure central bank payments.”
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