Ethereum software company ConsenSys has just sealed its sixth central bank digital currency project. On October 28, the blockchain organization announced that it would be working with Société Générale Forge on experiments for a digital euro.
Société Générale Forge is the platform for digital capital markets of the large financial services company Société Générale Group. SG Forge was already involved in the issuance of a 100 million euro bond as a security token for the Ethereum blockchain in spring 2019. The company specializes in creating institutional models for regulated security token operations that are registered on the blockchain.
SG Forge, along with Accenture, Euroclear, HSBC and others, is one of the most important partners selected by the Banque de France for its experimental development work with digital central bank money. The Banque de France, Societe Generale SFH and SG Forge issued a EUR 40 million bond, settled with a CBDC, as a pilot project in May of this year.
As part of its collaboration with SG Forge, ConsenSys will provide its technology and expertise to collaborate experimentation with issuing and managing CBDC, delivery versus payment, and interoperability between ledgers.
Prior to the SG Forge project, ConsenSys announced that it had been awarded the contract to lead the second phase of implementation of the Ithanon-Lionrock project – a cross-border CBDC payment network between Thailand and Hong Kong.
ConsenSys was also involved in CBDC development under the Central Bank of Singapore’s Ubin Project and the Central Bank of South Africa’s Khokha Project.