back Back

Societe Generale – Forge selects ConsenSys to boost CBDC pilot activities

By Megha Bhattacharya

October 29, 2020

  • Europe
  • Societe Generale
Share

Societe Generale Group’s digital capital markets platform Societe Generale – Forge selected ConsenSys to offer technology and services as part of its ongoing Central Bank Digital Currency (CBDC) pilot activities. The platform, as part of the partnership, will build upon its recent achievements including the issuance of a 100 million Euro covered bond on blockchain in 2019, and 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.

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. The company enables developers, enterprises, and individuals to build next-generation applications, launch modern financial infrastructure, and access the decentralized web.

Recently, Societe Generale entered into an agreement with AI-powered FinTech Galytix for digitalising its Corporate and Investment Banking group’s financial credit analysis processes. Galytix and PwC Luxembourg & France have partnered to develop this project for the Group, with Galytix providing its technology, and PwC its market insights and consulting support.

Ken Timsit, Global Head of Enterprise Solutions at ConsenSys, noted, “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.”

Previous Article

October 29, 2020

IndusInd Bank goes live on RBI’s Account Aggregator Framework

Read More
Next Article

October 29, 2020

Fenergo records rapid adoption of its cloud managed service, Fen-Cloud

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

Europe

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 12, 2024

Navy Federal Credit Union expands partnership with Backbase

Read More

April 12, 2024

FinTech Focus: Catch latest developments of the week

Read More

April 12, 2024

N26 launches Joint Accounts to help customers to manage shared finances

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023