Digital Euro Sees First Successful Test at the Bank of France

Digital Euro Sees First Successful Test at the Bank of France

Gate Trade News Thursday, May 21, 2020 12 0

Per a May 20 announcement from Banque de France, France has become the first country to successfully trial a digital euro, operational on a blockchain, following a call for new technology to back such a development at the end of March

 

The bank says it tested a sale of securities for central bank digital currency (CBDC) on May 14, signalling the beginning of more robust testing. 

 

Though the bank’s announcement did not go into great detail, it did indicate that the current pilot program is focusing on wholesale rather than retail uses for a digital euro. Retail CBDCs would operate open to regular consumers à la Bitcoin or Apple Pay. 

 

A wholesale CBDC would be the province of banks and institutional players as the French central bank says, “interbank regulations.”