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Cryptocurrency

100M euro digital bond was a CBDC test, says Banque de France

April 30, 2021. Summarized by summa-bot.

Compression ratio: 46.5%. 1 min read.

The bank also revealed plans for further experiments in the future, noting that its efforts are part a push to provide evidence of use cases for a European CBDC.

It turns out the 100 million euro digital bond issued by the European Investment Bank earlier this week was actually a trial of a European central bank-issued digital currency, or CBDC.

An April 28 announcement from France’s central bank, Banque de France, revealed the digital bond was settled using a CBDC on a blockchain.

“In the coming months and in cooperation with the market, the Banque de France will conduct additional experimentations to assess other uses of central bank digital currency in interbank settlements. ”

Despite the bullishness on Ethereum, the wait for a digital euro may still take some time, as the European Central Bank did not participate in the pilot.

In January this year, President of the European Central Bank Christine Lagarde said that the development of a digital euro is "going to take a good chunk of time to make sure it's safe," adding, "I would hope that it's no more than five years. ”

“If the central bank in Europe is gonna wait until 2028, by then there won’t be a central bank.

by summa-bot

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