The Bank of France (La Banque de France), which is the central bank of France, has announced the successful testing of the digital euro working on the blockchain network.
Hence, France became the first country where a digital analogue of paper currency has been successfully tested.
According to an official announcement, the bank succeeded to sell securities for a digital euro on a privately-developed blockchain with the help of financial conglomerate Société Générale.
The financial institution also announced the continuation of work on testing the digital euro for interbank operations.
In March, the central bank of France issued a statement in which it called for applications to experiment with the use of a "digital euro issued for interbank settlements."
The goal of the experiment was to explore the potentialities offered by the digital asset and to identify concrete cases integrating central bank digital currency (CBDC).
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