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Wednesday

28 July 2021

Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC – Finance Bitcoin News

Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC – Finance Bitcoin News


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The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley.

As part of a program launched in March 2020, central bank digital currency (CBDC) has been used to simulate the settlement of listed securities, Bank of France announced in a press release published Monday.

All operations were carried out in collaboration with the Swiss-licensed digital asset banking provider SEBA Bank AG, Banque Internationale à Luxembourg, the oldest multi-business bank in the Grand Duchy, and LuxCSD, a central securities depository service.

“We are delighted to have led the successful completion of this experiment with the Banque de France and to have leveraged SEBA Bank’s institutional-grade digital assets platform infrastructure to support Banque de France in this important development and contribution towards the possibility of a digital European currency,” said Matthew Alexander, Head of Digital Corporate Finance at the Zug-based SEBA Bank.

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