Saturday, September 13, 2025

Latest

Bank of France Settles $2.4 Million in Digital Currency Pilot Project

With pressure continuing to mount on banking institutions and national governments to align themselves with the growing cryptocurrency space, the Bank of France recently revealed it had successfully completed a central bank digital currency (CBDC) pilot project back in December.

According to an announcement by Le Banque de France, the central bank began a pilot project on December 27, which saw the purchase and sale of $2.4 million in simulated shares by investors using a CBDC. This is the first time that CBDC technology was used to settle monetary fund shares on a private blockchain platform, and mirrors China’s CBDC pilot project, which has processed more than 3 million transactions since its launch.

The Bank of France’s pilot project utilized distributed ledge technology and a CBDC stablecoin, both of which were provided by SETL — a regulated blockchain services provider based in the UK. SETL also provided its IZNEZ record-keeping platform, as a means of maintaining complete oversight of the instant transactions.

The potential mainstream utilization of CBDCs is becoming a focal point for a number of central banks around the world. In January, US Federal Reserve Chairman Jerome Powell revealed to Yahoo Finance that the creation of CBDCs has topped the list of the central bank’s main priorities, especially as a means of combatting some of the risks associated with the growth of cryptocurrency stablecoins.


Information for this briefing was found via Le Banque de France, Yahoo Finance, and Coindesk. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

US Regulators Looking To Take A More Active Role With Cryptocurrencies Market

Financial authorities within the United States are preparing to take a heavier initiative in regulating...

Sunday, May 30, 2021, 11:37:23 PM

Grayscale Is Losing the ETF Game, Transfers $800 Million More to Coinbase

In the initial days of trading as an ETF, Grayscale Bitcoin Trust (GBTC) has witnessed...

Wednesday, January 17, 2024, 03:14:00 PM

Berlin Mayor Sees Possible 2 To 3-Hour Power Cuts As Reasonable

Berlin Mayor Franziska Giffey sees the shutdown of power in specific districts or areas for...

Wednesday, October 19, 2022, 08:18:00 AM

Sweden Unveils Plan to Adopt E-Krona as Idea of Cashless Societies Gains Momentum

It appears that the idea of cashless societies is beginning to gain momentum, with Swedish...

Sunday, December 20, 2020, 03:31:00 PM

French Nuclear Power Plant Maintenance Issues Continue to Impact Uranium Spot Prices

Spot uranium prices have oscillated in a tight range around US$50 per pound for the...

Sunday, April 16, 2023, 11:27:00 AM