Central Bank of France Tests Blockchain-Backed CBDC Targeting Debt Market

As the adoption of digital assets is becoming more mainstream, some countries are awakening to join the flow. This has borne the desire to get a central bank digital currency, CBDC, by some countries. One of such countries is France.

For some months, the Central Bank of France has explored a central bank digital currency (CBDC). Recently, the apex bank is rounding off a remarkable trial of a CBDC based on blockchain within the country’s debt market.

According to the reports, there has been a 10-month testing experiment for a central bank digital currency in the country. Banque de France issued the experiment for its government bond deals with the participation of more than 500 institutions.

Bitcoin Takes A Pause As Futures Cooldown, Why BTC Is Clear For Takeoff

Bitcoin broke back above the $60,000 levels and records moderate profits in the past day. The benchmark crypto trades at $61,483, at the time of writing, with 4% profits in the daily chart and a 7% loss in the weekly.

Bitcoin has slowed down from its rally after it was rejected at the high of its current levels.

As NewsBTC has been recording since BTC’s price started turning to the upside, the rally has been driven by institutions increasing their bet on the cryptocurrency as its ETF was rollout in the U.S.

The upward trend brought a lot of leverage to the Bitcoin-based derivatives as speculators and short-term investors tried to ride the new bullish momentum. However, more leverage implies more volatility, and it can turn an upward trend fragile and susceptible to sudden moves.