Banque De France selects SEBA Bank for CBDC experiments

Seven other entities were selected that include Accenture, HSBC, ProsperUS, Euroclean and Sociate Generale

SEBA Bank, a FINMA licenced Swiss Bank providing a seamless, secure and easy-to-use bridge between digital and traditional assets, have been selected by Banque de France for experiments with Central Bank Digital Currency (CBDC). Banque de France announced the overview of candidates for their experiment. SEBA Bank is proud to see that Banque de France selected SEBA Bank amongst well-established and well-known international banks for its pilot project on how CBDCs can be distributed and used for cross-border payments to improve the functioning of financial markets.

The lessons learned from these experiments will constitute a direct contribution to the more global reflection conducted by the Eurosystem on the benefits of a CBDC. These experiments also illustrate Banque de France’s commitment to innovation, which was recently chosen to host, with the Deutsche Bundesbank and the European Central Bank, a new joint innovation center in Europe within the framework of the Innovation Hub of the Bank for International Settlements.

Following the examination of the applications received on 15 May 2020 in response to the call for applications for experiments in interbank settlements launched by the Banque de France, the following eight companies were selected  Accenture, Euroclear, HSBC, Iznes, LiquidShare, ProsperUS, SEBA Bank and Société Générale

The experiments proposed by the successful candidates will allow (i) to explore new methods of exchanging financial instruments against central bank money, (ii) to test the regulation in central bank digital money in order to improve the conditions of execution of cross-border payments and (iii) revisit the methods of making central bank money available. In due course Banque de France will start to collaborate with each of the eight candidates in order to carry out the pilot projects over the coming months.

“We at SEBA Bank are very proud of this achievement, and to be selected by Banque de France honors us. It is a proof of concept that our service offering and deep expertise of the industry is of great value and a relevant contribution to develop the eco system of digital currencies and assets.” states Guido Bühler, CEO SEBA Bank.