France and Switzerland began testing CBDC for international settlements

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The central banks of France and Switzerland announced the beginning of experiments with the wholesale digital currency of the Central Bank (CBDC) for cross-border payments.

According to the press release, the Eurosystem is actively developing and implements innovations in the field of digital payments. The France Bank supports this desire and is convinced that the use of CBDC will increase the efficiency and safety of financial transactions.

For the promotion in this direction, the French have agreed with colleagues from Switzerland on the conduct of closed testing of the wholesale version of the digital currency of the Central Bank. In the course of experiments, CBDC will be used for calculations between the banks of both countries.

At the same time, the statement notes that, despite the principle, the participants do not plan a public output of the digital currency in the near future.

This is not the first initiative of the Bank of France in this direction. Last year, the Central Bank in conjunction with the financial conglomerate Societe Generale successfully

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