French Wholesale CBDC

Link to whitepaper: www.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Structure: Token → Token

Technology: DL3S → DL3S

DLT / non-DLT: DLT → DLT

Link to announcement: www.gbm.hsbc.com

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Main motivation/goals of the CBDC: To check the Interoperability across platforms, which is a key element to maximize the benefits of the distributed ledger technology applied to financial markets. By achieving the transfer of data and assets, as well as the exchange of assets across different blockchains in an atomic way, the Banque de France and HSBC have demonstrated the possibility of such interoperability, essential to ensure that the multiple environments, on which the efficient functioning of markets rely, can coexist. → The objective of the experiment is to issue cross-border payments in a test environment to study the interoperability between different distributed ledger technologies (DLTs) and existing payment systems. These payments will be made in simulated CBDC issued by the participating central banks.

Link to announcement: blockchain.newswww.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Technology: DL3S

Link to announcement: www.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Technology Provider: IZNES → IBM

Main motivation/goals of the CBDC: To test the integration of issuance and settlement activities, including exchanges on the secondary market. It served the discussions that the Banque de France is conducting on the tokenisation of financial assets → To check the Interoperability across platforms, which is a key element to maximize the benefits of the distributed ledger technology applied to financial markets. By achieving the transfer of data and assets, as well as the exchange of assets across different blockchains in an atomic way, the Banque de France and HSBC have demonstrated the possibility of such interoperability, essential to ensure that the multiple environments, on which the efficient functioning of markets rely, can coexist.

Link to announcement: www.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Main motivation/goals of the CBDC: To study the benefits that interbank CBDC could provide in the context of the digitization of payments → To demonstrate the possibilities of interaction between conventional and distributed infrastructures

Link to announcement: www.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Main motivation/goals of the CBDC: To demonstrate the possibilities of interaction between conventional and distributed infrastructures → To test financial optimisation on a blockchain with Repo operations, as well of the synchronisation of collateral operations between the blockchain and the European platform for securities settlement Target 2 Securities

Link to announcement: www.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Main motivation/goals of the CBDC: To test financial optimisation on a blockchain with Repo operations, as well of the synchronisation of collateral operations between the blockchain and the European platform for securities settlement Target 2 Securities → To test the integration of issuance and settlement activities, including exchanges on the secondary market. It served the discussions that the Banque de France is conducting on the tokenisation of financial assets

Link to announcement: www.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Announcement Year: 2019 → 2021

Description: On 17 December 2020, the Banque de France successfully carried out an experiment on central bank digital currency (CBDC) with IZNES as part of the experimental programme launched in March. The experiment was carried out in collaboration with IZNES, SETL, CACEIS, CITIGROUP, GROUPAMA AM, OFI AM and DXC. The Bank of France has selected eight applicants to experiment with the use of a digital euro (Madre) for interbank settlements in July 2020. The test is experimental and will not be used commercially, but it intends to investigate a digital euro system. → This was the third experiment conducted as part of the CBDC for interbank settlement work program launched by Banque de France in mid-2020

Main motivation/goals of the CBDC: The project began as a proof-of-concept in June 2016 to learn more about DLT with a simple use case. → To study the benefits that interbank CBDC could provide in the context of the digitization of payments

Link to announcement: www.banque-france.fr

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

Research → Pilot

Description: On 17 December 2020, the Banque de France successfully carried out an experiment on central bank digital currency (CBDC) with IZNES as part of the experimental programme launched in March. The experiment was carried out in collaboration with IZNES, SETL, CACEIS, CITIGROUP, GROUPAMA AM, OFI AM and DXC. The Bank of France has selected eight applicants to experiment with the use of a digital euro (Madre) for interbank settlements in July 2020. The test is experimental and will not be used commercially, but it intends to investigate a digital euro system.

DLT / non-DLT: DLT

Main motivation/goals of the CBDC: The project began as a proof-of-concept in June 2016 to learn more about DLT with a simple use case.

Link to announcement: www.banque-france.frwww.banque-france.frwww.banque-france.frcointelegraph.comcointelegraph.comfinadium.com

Country / Region: Euro Area → Euro Area

Central Bank(s): European Central Bank → Banque de France

None → Research

Announcement Year: 2019

Retail/Wholesale: Wholesale

Structure: Token

Technology Provider: IZNES

Country / Region: Euro Area

Central Bank(s): Banque de France