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Société Générale tests digital euro

Friday 22 May 2020 11:24 CET | News

The central bank of France has completed the first test of its blockchain-based digital currency.

Société Générale issued EUR 40 million worth of covered bonds as security tokens on May 14, 2020, which were then settled in the central bank’s blockchain-based digital euros. Banque de France said it will now conduct more tests with other players part of its ongoing experiments with digital euro.

Banque de France launched its digital euro experimental program in April 2020, aiming to explore the potential of digital currency in tokenized financial assets, but not wanting to replace coins and banknotes.

The European Central Bank also once said that it is willing to issue its own digital currency if the private sector fails to make cross-border payments faster and cheaper.  


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Keywords: France, banks, Societe Generale, blockchain, digital, euro, digital currency, tokens, Banque de France, The European Central Bank, cross-border payments, payments, cross-border
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: France
This article is part of category

Blockchain & Cryptocurrencies