ConsenSys teams up with the Banque de France for further development for a digital euro

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• ConsenSys has just announced that it will be teaming up with Société Générale Forge in order to experiment with a digital euro.

• This is the six central-bank digital currency project that the firm has collaborated with and for those that don’t know, Société Générale Forge is the digital capital markets platform for major financial services groups. 

ConsenSys has just announced that it will be teaming up with Société Générale Forge in order to experiment with a digital euro.

This is the six central-bank digital currency project that the firm has collaborated with and for those that don’t know, Société Générale Forge is the digital capital markets platform for major financial services groups. 

According to the announcement on the official website:

ConsenSys will provide technology and expertise to Societe Generale – Forge, focusing in particular on CBDC issuance and management, delivery versus payment, and cross-ledger interoperability.

SG forge was involved in the issuance of a €100 million bond as a security token on the blockchain for Ethereum in 2019. Particularly, the company works on building institutional grade models for security token operations that are registered on Blockchain.

Along with numerous other banking institutions, SG forge is going to be one of the crucial partners that has been selected by the Banque de France for its experimental development work with central-bank digital money.

Early this year the Banque de France, Societe Generale SFH, and SG Forge issued a tokenised 40 million euro bond and settled using a CBDC, which was to be a pilot project.

On top of all of this, ConsenSys has also been working behind-the-scenes in a CBDC development for the Singapore central-bank known as a project Ubin not to mention, the central bank in South Africa which has been named as project Khokha.

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