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The second phase of France's wholesale CBDC experiments has begun

According to the head of the Banque de France, the central bank wants a working CBDC operational by 2023. For domestic and cross-border bank transactions, the second phase of CBDC experimentation could be used to streamline the process. Euro-based CBDCs are digital representations of a jurisdiction's sovereign currency. A country's central bank could theoretically issue retail CBDCs, which citizens could use to buy goods and services, as a replacement for CBDCs. During a Monday meeting of EU finance ministers, it was decided that the digital euro should not replace cash in the EU but rather supplement it.
 

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