Bank of France tests securities settlement based on digital currency

The Central Bank of France-Bank of France-is continuing to work on the development of the European Central Bank Digital Currency (CBDC).

Bank officially on Monday Announce Successfully completed the CBDC experiment with SEBA, a major cryptocurrency bank headquartered in Switzerland.

The experiment was conducted in cooperation with SEBA, International Bank of Luxembourg and LuxCSD, the Luxembourg central securities depository, using CBDC to simulate the settlement and delivery of listed securities on the European securities settlement engine TARGET2-Securities (T25).

Saiba buy For the securities of Luxembourg International Bank, the post-trade settlement is managed by LuxCSD.

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Nathalie Aufauvre, General Manager of Bank of France Financial Stability and Operations, said that the latest CBDC test proves the possibility of interaction between traditional financial systems and distributed systems. “It also paves the way for other alliances to benefit from the opportunities provided by financial assets in the blockchain environment,” Aufauvre said.

The bank noted that the new CBDC test is Experimental CBDC program launched In March 2020, it aims to test the settlement integration of CBDC. Other experiments of the plan will continue until mid-2021, because in addition to other European central banks, the Bank of France will also test the feasibility of CBDC.