France's central bank in a cooperation with Switzerland has launched experiment on a cross-border digital currency (CBDC). According to an announcement, the experiment will be conducted by the Banque de France, the Swiss National Bank and the BIS Innovation Hub. The experiment will also include the private consortium, which consists of Credit Suisse, Natixis, R3, SIX Digital Exchange and UBS.
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"In this perspective, we are delighted to be able to conduct an important experiment — called Jura — on cross-border settlement in partnership with the Swiss National Bank and the BIS Innovation Hub," said Sylvie Goulard, Deputy Governor of the Banque de France.
The experiment will explore the exchange of the financial instrument against a euro wholesale CBDC and a Swiss franc wholesale CBDC. The project's deadline remains undisclosed.
The trial starts after La Banque de France reported about it successful trial of a central bank digital currency (CBDC) for settling digital bonds issued by the European Investment Bank on the Ethereum blockchain. According to the regulator, the placement has been done by creating smart contracts on the blockchain to issue and control the circulation of digital euro tokens.
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