Trying to keep up with the rest of the world, France is keen on contributing to the digital payments industry. The authorities have announced that the regulator selected the Tezos blockchain network for testing its own digital currency. The experiments with the central bank's cryptocurrency will be carried out by Societe Generale, the largest financial conglomerate.
The officially stated objective of this program is to explore the potential CBDC opportunities for clearing and settlement of tokenized financial assets. The tasks set by the French financial regulator will be undertaken by specialists from Societe Generale and Nomadic Labs. The latter is one of the largest research and development centers in the Tezos ecosystem. Currently, France is about to begin its final stage of testing. The result of this joint work is expected to be an application for using the national cryptocurrency.
In general, the European community is already working on creating its own currencies, including the euro. In September, ECB President Christine Lagarde announced that the European Central Bank continues to explore the pros and cons of introducing a digital euro to complement cash. Now the main issue relates to the further action of the regulator and the possibility of launching the European cryptocurrency.
