Societe Generale – Forge, a subsidiary of European investment bank Societe Generale, has chosen Ethereum software incubator ConsenSys to provide it with “technology and expertise” related to the issuance of a central bank digital currency.
After taking part in a test of a digital euro in May, Societe Generale – Forge was named by the Banque de France as one of eight potential partners for a CBDC in July. The French central bank, which represents the second-largest economy in the European Union, is one of the first in Europe to experiment with a CBDC for interbank settlement.
Last month, Societe Generale – Forge moved forward with its own CBDC trials, deciding to build with the Tezos public blockchain.
Though ConsenSys is known for its work with the Ethereum, rather than Tezos, blockchain—incubating products like MetaMask and Infura—it does have experience working on CBDCs. For example, it has previously partnered with the South African Reserve Bank on Project Khokha, another interbank system, as well as the Monetary Authority of Singapore on settlement of a tokenized Singaporean dollar.
Its contributions will cover primarily “CBDC issuance and management, delivery versus payment, and cross-ledger interoperability,” according to a press release.
Read more: https://decrypt.co/46471/major-french-bank-taps-consensys-to-develop-digital-currency