According to a recent interview, French Central Bank Governor Villeroy de Galhau says stablecoins and tokenized securities along with other assets, have caught the attention of the Central Bank of France.
The Bank of France’s Interest in Tokenized Securities Explained
In recent news, security tokens have officially reached France.
Societe Generale, the third largest bank in the country, issued a €100 million tokenized bond in April 2019.
Two months prior, Kriptown, a France-based tokenized equity issuance platform, conducted their first Initial Token Offering (ITO). It went on to raise €475,000.
Now, even the French Central Bank Governor— Villeroy de Galhau— is showing interest in the emerging industry.
In a recent interview, de Galhau said,
“The Bank of France is observing with great interest initiatives in the private sector which aim at developing networks within which ‘stablecoins’ would be used in transactions involving ‘tokenized’ securities or goods and services. These are quite different from speculative assets like Bitcoins, and more promising.”
What’s even more surprising is de Galhau’s potential future.
A recent poll suggests de Galhau is currently the projected replacement for Mario Draghi at the European Central Bank.
France isn’t the only country with government officials interested in the benefits of integrating blockchain technology with traditional finance.
The United States has seen a significant push by both federal and state legislators for a legally friendly facilitation of blockchain technology’s entrance into the financial industry.
When it comes to tokenized securities, jurisdictions such as Hong Kong, Malta, Germany, the UK, and the US have all provided the nascent industry with general— but usually still developing— guidance.
What do you think of the Central Bank of France showing interest in stablecoins and tokenized securities? Let us know what you think in the comments section below.
Image courtesy of Banque de France.