In a speech earlier this week, François Villeroy de Galhau, the Governor of the Banque de France, proposed a pan European DLT infrastructure. It would support central bank digital currency (CBDC) and tokenised bank deposits to settle transactions for DLT-based tokenized assets on the same network.
Tokenization offers many benefits, such as 24/7 transactions, programmability and greater efficiencies through automation and reducing reconciliations. But the current batch of financial DLT platforms are primarily for issuance and have limited interoperability, constraining the immediate benefits. Hence the idea of a shared infrastructure to address interoperability.
The Governor said a single infrastructure would “guarantee interoperability between the different assets as well as the singleness of the currency.”
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