Bank of France Lists the Candidates for the Digital Euro Project

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This post was most recently updated on August 21st, 2020

The Bank of France has just unveiled on July 20 the list of companies selected to launch its experiments around a “central bank digital currency” (CBDC). After its call for applications, here are the 8 winners.

CBDC: Eight entities will be able to embark on the experiment

The Bank of France therefore published this morning, on its website, the list of eight service providers selected to participate in its central bank digital currency project in interbank settlements .

Here it is, in alphabetical order:

  • Accenture (international consulting firm, Dublin);
  • Euroclear (the world’s largest securities settlement / delivery system);
  • HSBC (the British multinational investment bank);
  • Iznes (blockchain record keeping and investment solution);
  • LiquidShare (fintech focused on securities tokens );
  • ProsperUS  (digital transaction platform);
  • SEBA Bank AG (the Swiss crypto-friendly bank );
  • Société Générale – Forge (a subsidiary of Société Générale dedicated to securities tokens ).

 

In what will consist the Bank of France experiment?

According to the official press release, here is the work that the candidates will have to do:

  • Exploration of new methods of exchanging financial instruments ( excluding crypto-assets ) against central bank money;
  • Testing of central bank digital currency settlements in order to improve the conditions of execution of cross-border payments ;
  • Establishment of modalities for the provision of central bank money.

Thus, research is directed towards digital financial securities and interbank settlements .

Strong mobilization

Finally, the Bank of France ensures that the call for candidates was a real success. She would have received many proposals.

”The strong mobilization around this call for applications testifies to the interest of the actors of finance and technology for this approach aiming to explore the potential contributions of a digital currency issued by the central bank to improve the functioning of the financial markets , in particular interbank settlements. “

In addition, the Bank of France recalls that it was recently chosen (together with the Deutsche Bundesbank and the ECB) to host a new innovation center for the Bank for International Settlements

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past. Also, pro-local, pro-global and anti-national.

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