Central Bank of France exploring retain CBDC after wholesale

France’s central bank has concluded that further examination of wholesale central bank digital currencies (CBDCs) is needed following its initial experiments. The Banque de France’s experiment which started in March 2020 concluded with the results published. Central Bank of France is also exploring a retail CBDC project as well.

“We have demonstrated that a wholesale CBDC would be of benefit for cross-border and cross-currency payments as it would improve the efficiency of processing chains,” said Nathalie Aufauvre, head of the bank’s experimentation program.

However, further examination is required of important questions pertaining to the role of financial intermediaries and the transmission of monetary policy, according to the Banque de France.