Thursday, November 26, 2020

ConsenSys collaborates with Banque de France digital euro partner

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Ethereum software firm ConsenSys has just sealed its sixth central bank digital currency project. On Oct. 28, the blockchain organization announced that it will be collaborating with Société Générale Forge on experiments for a digital euro.

Société Générale Forge is the digital capital markets platform of major financial services group, Société Générale Group. 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. 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. Banque de France, Societe Generale 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.

Ahead of the SG Forge project, ConsenSys announced 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. 

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.