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French and Swiss Central Banks Will Test Cross-Border Payments With a CBDC

The central banks of Switzerland and France, in collaboration with the Bank for International Settlements Innovation Hub, have confirmed that they plan to experiment with CBDCs regarding international payments.

“The Eurosystem is engaging in innovation and adapting its actions to the strong trend towards the digitalization of payments. The Banque de France is convinced of the potential benefits of wholesale central bank digital currency to provide maximum security and efficiency in financial transactions,” declared Deputy Governor of the Banque de France Sylvie Goulard.

This cross-border payment will take place between the French and Swizz banks. While this CBDC test was confirmed, the announcement was also quick to point out that neither of the two central banks have plans to release a CBDC anytime soon.

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