« At SEBA Bank, we are very proud of this success and being selected by the Banque de France is an honor to us. It is a proof of concept that our service offering and our deep sector expertise are of great value and a relevant contribution to developing the ecosystem of currencies and digital assets ”. declares Guido Bühler, PDG of SEBA Bank.
Banque de France selected candidates
Following an evaluation of the applications received in May 2020 – in response to the call for applications for experimentation in interbank settlement – the Bank selected the following eight companies (in alphabetical order):
- SEBA Bank
- Societe Generale.
The Banque de France experimentation
The Bank will begin to work with each of the eight applicants to complete the pilot projects over the coming months. The experiences proposed by the selected candidates will allow:
- exploration of new methods of exchanging financial instruments for central bank money
- testing of central bank digital currency regulation (to improve conditions for executing cross-border payments)
- review of methods of making central bank money available.
The lessons learned from the experiences of the Banque de France will contribute to a better understanding:
- for the “Eurosystem
- of the possible benefits of a CBDC.
Enterprise Times: what does it mean
The notion of CDBC has been around for some time. Other projects include:
- the Bank of Canada’s Jaspar project
- Bank of Thailand’s Inthanon project
- Ubin Project (from Singapore)
- Project Stella (the ECB).
All these experiments, with the CDBC initiative of the Banque de France, represent a commitment to innovation in the environment of the central bank. It is also relevant that the Bank, together with the Deutsche Bundesbank and the European Central Bank, host a common European innovation center as part of the innovation hub of the Bank for International Settlements.