Launch of a digital currency for trading between financial institutions at the beginning of 2026
The governor of the Central Bank of France, François Villeroy de Galhau, announced the launch of the first transactions between financial institutions using digital currencies issued by central banks starting at the beginning of next year.
He explained that these "symbolic bank reserves" issued by the European Central Bank to replace the current central bank currency "will constitute safe and liquid settlement assets for financial actors", according to the French Press Agency.
This process involves issuing a digital token, whose value is backed by existing assets, relying on "blockchain" technology, which greatly simplifies and accelerates financial transactions.
The use of "stablecoins", which are tokenized assets backed by currency, is increasing, and their growth is expected to accelerate, according to Villeroy de Galhau, as actions taken by the administration of former U.S. President Donald Trump to promote them have led to the emergence of many private digital currencies linked to the dollar, which are gaining popularity.
He noted that "99% of the capital" in this market is backed by the dollar, posing a "real risk of European devaluation and currency privatization", justifying the development of a public stablecoin backed by the euro, according to the governor of the French central bank.
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