French Central Bank accelerates work on CBDC
Francois Villeroy de Gallo, governor of the Bank of France, yesterday spoke about the expansion of the central bank's work on the wholesale digital currency of the central bank (CBDC). He wants the central bank to be ready to support the EU's DLT pilot regime for tokenized securities, which will come into force on March 23, 2023.
The Bank of France is planning four or five more experiments this year and in 2023 involving more private firms and other foreign central banks. He previously worked with the Swiss National Bank, the Monetary Authority of Singapore (MAS) and the central bank of Tunisia on separate cross-border payment projects.
The bank has created its own DLT technology, as well as an automated market maker platform, which can serve as the basis for a multi-CBDC platform on which various central banks will unite to provide fast, automated and transparent settlement in different currencies.
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