Next year France intends to start testing a Central Bank Digital Currency (
CBDC) targeted at institutions. Yesterday
Les Echos reported that the Governor of the Banque de France, François Villeroy de Galhau, announced the timescale as the first quarter of 2020. However, these are just tests at this stage.
In another speech on
November 21st, Denis Beau, the First Deputy Governor was more specific. “One possibility often mentioned would be for us to issue a central bank digital currency to support wholesale clearing and settlement services on a decentralised basis using DLT,” said Beau referring to institutional payments for securities and the like.
“We, at the Banque de France, are therefore quite open for experiments in that direction, together with the ECB [European Central Bank] and other central banks of the Eurosystem, in particular with regard to a wholesale Central Bank Digital Currency.”
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