In March 2020 Banque de France, launched a Central Bank Digital Currency (CBDC) experiment program to test the integration of CBDC in procedures for the exchange and settlement of tokenised financial assets.
A consortium of banks led by Euroclear was selected to assess the potential of post-trade capital market settlement operations in CBDC for French Sovereign Debt Securities.
The experiment had three high level objectives:
- Assess whether a large range of post-trade functionalities can be run on blockchain
- Identify from a user point of view, the added value of blockchain technology and CBDC for the capital markets
- Determine potential next steps.
This report provides a detailed explanation of how the experiment was carried out and reveals some fascinating findings.