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ConsenSys Partners With Société Générale Forge For Experimenting Digital Euro

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. 

#ConsenSys selected by @SocieteGenerale to provide technology and expertise for its #CBDC experiments — ConsenSys (@Consensys) October 28, 2020

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.

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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