Share this article
France Tests CBDC Flows With Singapore Using Automated Liquidity Pool
Running on JPMorgan’s Onyx blockchain, it was the first cross-border CBDC transaction to use automated-market-making smart contracts.
By Ian Allison
Updated May 9, 2023, 3:21 a.m. Published Jul 8, 2021, 11:16 a.m.
The Banque de France (BdF) has tested a cross-border central bank digital currency (CBDC) transaction with Singapore, marking the first use of a smart contract–based, automated liquidity pool for the digital EUR/SGD currency pair.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The French central bank worked with the Monetary Authority of Singapore for the experiment, one of the last in the bank’s wholesale CBDC sandbox program that finishes this autumn. It was executed using a permissioned version of Ethereum called Quorum, developed by JPMorgan.
In the context of wholesale – or bank-to-bank – CBDC transactions, cross-border payments without slow and costly intermediation is something of a Holy Grail. Cutting down on middlemen lessened the number of contractual arrangements and the Know Your Customer burden, Banque de France said.
Read more: Bank of France Carries Out Fifth CBDC Experiment With BNP Paribas, Euroclear
JPMorgan’s blockchain-based Onyx suite of applications, which includes JPM coin, uses a system of automated digital contracts of the sort that have made areas like decentralized finance (DeFi) explode in the public arena.
The CBDC automated liquidity pool and market-making service for EUR/SGD currency pairs could be scaled up to support the participation of multiple central banks and commercial banks in different jurisdictions, BdF said. The use of smart contracts automatically managed the EUR/SGD exchange rate in line with real-time market transactions and demands, it said.
More For You
需要了解的:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Pineapple Financial Starts Migrating its $10B Mortgage Portfolio Onchain via Injective
The Canadian fintech has already put data tied to about $412 million in funded mortgages onchain, and aims to migrate more than 29,000 loans over time.
需要了解的:
- Pineapple Financial said it launched a mortgage tokenization platform on the Injective blockchain and has started migrating its loan records onchain.
- The company has a longer-term goal of moving its historical portfolio of more than 29,000 funded mortgages, totaling about $10 billion (C$13.7 billion), onto the blockchain.
- Each tokenized mortgage record includes more than 500 data points and will underpin a permissioned data marketplace and a planned product offering onchain mortgage-backed yields, the company said.
Top Stories
