ConsenSys Partners With Société Générale Forge For Experimenting Digital Euro
ConsenSys Partners With Société Générale Forge For Experimenting Digital Euro
October 29, 2020
ConsenSys Partners With Société Générale Forge For Experimenting Digital Euro
ConsenSys Partners With Société Générale Forge For Experimenting Digital Euro
October 29, 2020

ConsenSys, the Ethereum software firm, has partnered with Société Générale Forge, the digital capital markets platform of major financial services group, Société Générale Group, for experimenting a digital euro.  

It has been reported that SG Forge was involved in the issuance of a 100 million euro bond as a security token on the Ethereum blockchain back in spring 2019.

However, it specializes in building institutional-grade models for regulated security token operations registered on the blockchain. 

Alongside Accenture, Euroclear, HSBC, and others, SG Forge is one of the key partners selected by the Banque de France for its experimental development work with central bank digital money. 

It has been analyzed that Banque de France, Societe Générale SFH, and SG Forge issued a tokenized 40 million euro bond, settled using a CBDC, as a pilot project this May.

As part of its work with SG Forge, ConsenSys will provide its technology and expertise for joint experiments with CBDC issuance and management, delivery versus payment, and cross-ledger interoperability.

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ConsenSys announced that it had been awarded the contract to lead the second implementation phase of Project Ithanon-Lionrock, a CBDC, cross-border payment network between Thailand and Hong Kong ahead of the SG Forge project.

Thus, ConsenSys has also been involved in CBDC development as part of the Singapore central bank’s Project Ubin, and the South African central bank’s Project Khokha. 

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.