France will start testing digital currency in 2020
In his speech at the conference by the French Prudential Supervision and Resolution Authority (ACPR), Governor of the central bank of France stated that France is looking at the possibility to create digital currency issued by the central bank. According to the AFP report, Mr François Villeroy de Galhau said that France will launch the call for projects in the first quarter of 2020.
And added that they will look at the issue of the central bank created digital currency in a ‘serious and methodical way’. Cryptocurrency that is backed by commodity or other currency, often referred as a stablecoin, is becoming a main focus of many central banks worldwide after the announcement of the Facebook’s stablecoin Libra.
France was already proposed the creation of the ‘public digital currency’ at a European Union (EU) level in the midst of the Libra announcement earlier in 2019.