France and Singapore jointly test cbdc
The main bank of the European country and the Monetary Authority of the Asian region are working on tests related to currencies issued by central banks
The Bank of France and the Monetary Authority of Singapore (MAS) are jointly testing digital currencies issued by central banks, according to a joint statement.
Both institutions ensured that the cross-border settlement and payment experiment carried out with a cbdc was successfully completed.
These tests were carried out thanks to the help of JPMorgan’s digital currency division, Onyx, who helped simulate cross-border transactions as they occur in the real world, but this time with cryptocurrencies.
These final tests are part of the Bank of France’s experiment program, to be able to successfully complete it by the end of 2021.
K. Tovar
Source: Banque de France
