In December as part of ongoing experiments into blockchain and stablecoin technology, The Bank of France processed $2.4 million worth of fund units using a CBDC (Central bank digital currency).
As announced by Le Banque de France on Jan. 19, the pilot commenced on Dec. 17, and saw 2 million euros ($2.4 million) worth of simulated shares purchased and sold by investors using a CBDC.
The pilot took place with distributed ledger technology provided by SETL — a UK-based regulated blockchain services provider, which also provided the CBDC stablecoin. SETL’s IZNEZ record-keeping platform was used to keep track of fund unit movements.