On Sept. 15, Societe Generale-Forge announced that it plans to use Tezos to develop a Euro-pegged stablecoin for France’s national bank (Banque de France). Nomadic Labs, a major Tezos development firm, will also participate by “contributing its technological expertise” to the project.
The announcement says that several of Tezos’ features played into the decision: the blockchain’s on-chain governance, proof-of-stake consensus model, and formally verified smart contracts all were contributing factors. It is not clear how SGF plans to use those capabilities, but it says that those features make Tezos “ideal for high-value financial applications.”
France previously selected several potential partners for its CBDC project, including Accenture, HSBC, and Seba Bank. As such, it is not certain that SGF’s Tezos-based solution will progress beyond a trial and be put into place in the real world.