Breaking: France and Switzerland Launches Cross-Border CBDC Trials
The central banks of France and Switzerland have joined hands to launch the cross-border commercial trials for CBDC. Both central banks have partnered with several commercial banks including UBS Group AG, Credit Suisse Group AG, Accenture Plc, and Natixis SA to test the central bank digital currencies.
The collaborative effort was launched under the innovation hub at the Bank for International Settlements.
Benoit Coeure, BIS Innovation Hub head said,
The G20 has made enhancing cross-border payments a priority. This experiment contributes to this work by exploring how wholesale CBDC could enhance speed, efficiency, and transparency in cross-border use cases.”