France’s central bank Banque de France plans to pilot a central bank digital currency (CBDC) for financial institutions in 2020.

The bank says the digital euro pilot will only target private financial sector players and will not involve retail payments made by individuals.

Banque de France’s governor François Villeroy de Galhau said that a digital currency for retail customers would “be subject to special vigilance.”

The project aims to assert the country’s sovereignty over private digital currency initiatives like Facebook’s cryptocurrency Libra, which will also launch next year.

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