French bank selects Accenture, HSBC and others for digital euro pilot

The French bank is preparing to announce some experiments with the digital euro.

According to a recent announcement, the Banque de France has selected eight potential candidates to try out CBDC integration for bank payments.

Affiliates include large organizations such as Accenture, HSBC and Societe Generale, as well as smaller entities such as Seba Bank and LiquidShare.

Previously, the French central bank called the euro digital in March. At the time, the French bank said it would select up to 10 CBDC applicants, and "innovation" was one of the key options.

The Banque de France will now work "in the coming months" with each of the eight participants in an experiment intended to explore "new ways of doing financial business". A pilot project is underway to determine how CBDCs will be distributed and used for cross-border payments.

A French bank seems to learn more wholesale than to sell commodities on the euro. This means that CBDCs are designed for “banking supervision” and not for consumers.

France actively supports the adoption of the digital euro

So far, France has been at the forefront of the European CBDC experience. In May, it became the first country to conduct a digital euro blockchain trial as part of the Societe Generale project extension.

It is not clear whether France's CBDC experiment will be implemented in the European Union, but recently the French bank was chosen as the representative of the euro and is now part of the “Bank for International Settlements” with the German Bundesbank. The international network of “BIS Innovation Centers”.