Ethereum ConsenSys software company has completed its sixth central bank for digital currency project. On October 28, the blockchain organization announced that it would partner with Société Générale Forge to pilot the digital euro.
Société Générale Forge is the digital capital market platform of the large financial services group Société Générale Group. In Spring 2019, SG Forge participated in the issuance of a € 100 million security token on the Ethereum blockchain. It specializes in building institutional models for structured transactions using security tokens registered on the blockchain.
Along with Accenture, Euroclear, HSBC and others, SG Forge is one of the key partners chosen by the Banque de France for its pilot development using digital central bank funds. Banco de France and Societe Generale SG Forge issued a € 40m token bond with a settlement using CBDC as a pilot project in May of this year.
As part of its work with SG Forge, ConsenSys will bring its technology and expertise to partner with CBDC issuance and management, shipping and payment, as well as interoperability between managers.
In anticipation of the SG Forge project, ConsenSys announced that it has won the contract for the second phase of the Ithanon-Lionrock project, the CBDC cross-border payment network between Thailand and Hong Kong.
ConsenSys has also been involved in the CBDC development of the Ubin project for the Central Bank of Singapore and the Khokha project for the Central Bank of South Africa.