The French central bank has announced the first successful test of a digital euro.
Per a May 20 announcement from Banque de France, France has become the first country to successfully trial a digital euro, operational on a blockchain, following a call for new technology to back such a development at the end of March
The bank says it tested a sale of securities for central bank digital currency (CBDC) on May 14, signalling the beginning of more robust testing.
Wholesale rather than retail CBDC
Though the bank’s announcement did not go into great detail, it did indicate that the current pilot program is focusing on wholesale rather than retail uses for a digital euro.