ConsenSys works with Banque de France on digital euro

The block chain company ConsenSys is becoming increasingly active in CBDCs.

The Ethereum software company ConsenSys has just agreed on its sixth central bank project. On 28 October, the Blockchain organisation announced that it would experiment with a digital euro with Société Générale Forge.

Société Générale Forge is the digital capital market platform of the major financial services group Société Générale Group. In spring 2019, SG Forge was involved in the issuance of a €100 million bond as a securities token on the Ethereum block chain. The platform specialises in building institutional models for regulated securities token operations registered on block chain.

Along with Accenture, Euroclear, HSBC and others, SG Forge is one of the main partners selected by the Banque de France for its experiments with digital central bank currencies. The Banque de France, Societe Generale SFH and SG Forge issued a €40 million tokenised bond in May this year as part of a pilot project, which will be processed through a CBDC.

As part of its work with SG Forge, ConsenSys will provide its technology and expertise for joint experiments related to CBDC issuance and management, delivery versus payment and ledger-wide interoperability.

Prior to the SG Forge project, ConsenSys announced that it has been awarded the contract to lead the second implementation phase of the Ithanon-Lionrock project. This is a cross-border CBDC payment network between Thailand and Hong Kong.

ConsenSys was also involved in CBDC development in the Ubin project of the Central Bank of Singapore and the Khokha project of the Central Bank of South Africa.