The French and Swiss central banks tested the use of a wholesale CBDC in cross-border funds transfers, with Credit Suisse, Accenture, and others participating.
The deputy governor of the Bank of France addressed the need for DeFi and digital assets regulations and expressed his concerns about CBDC.
The Bank of France began experimenting with CBDC in 2020 and said it could transform sectors such as cross-border transfers, but there are concerns.
Banque du France is seeking to determine how a central bank digital currency can improve the fluidity and efficiency of payment and settlement systems.
Bank of France Governor Francois Villeroy de Galhau has made a 180-degree turn on his stance on cryptocurrencies and called for platforms that easily switch between crypto-assets and the real economy.