Societe Generale Cuts Deal With Blockchain Behemoth ConsenSys To Back Its Central Bank Digital Currency Experiments With Technology, Expertise and Strategy

Societe Generale – Forge, ConsenSys, CBDC, Central, Bank, Digital, Currency
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Societe Generale – Forge, the digital capital markets platform of the Societe Generale Group, has chosen one of Blockchain leading companies ConsenSys to provide technology and services as part of its ongoing Central Bank Digital Currency (CBDC) pilot activities.

Jean-Marc Stenger, CEO of Societe Generale – Forge, noted:

“We are pleased to partner with ConsenSys, a company who is a key player in the development of distributed ledger technology globally and offers many of the infrastructure and development tools used by the blockchain community.”

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.

“We have high regard for the accomplishments of Societe Generale – Forge and are proud to be working with them. ConsenSys is committed to advances in the CBDC space and has assisted six central banks around the world on CBDC projects,” added Ken Timsit, Global Head of Enterprise Solutions at ConsenSys.

With this new deal, Societe Generale – Forge will continue to add on previous achievements such as the issuance of a 100 million Euro covered bond on blockchain in 2019, along with the issuance of a 40 million Euro bond that was settled with a CBDC in 2020, a joint project with the Banque de France, the French central bank.

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.

ConsenSys is the leading Ethereum software company that enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. The company product suite, composed of Infura, Quorum, Codefi, MetaMask, and Diligence, serves millions of users, supports billions of blockchain-based queries for its clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open-source foundation, Consensys are a key participant in building the digital economy of tomorrow.

Societe Generale – Forge, is a fully integrated subsidiary of Societe Generale Group that provide issuers and investors, either Corporates or Financial Institutions, with end-to-end services to issue and manage digital-native financial products registered on the blockchain (Security Token). For market infrastructure operators, they architect and build open, simple, secure and institutional-grade frameworks and models for Security Token operations, underpinned by banking class security and full regulatory compliance. Committed to launching with real use cases, Societe Generale – Forge states they are progressively building towards it’s ‘compliant by design’ platform capabilities.

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