ConsenSys Selected by Societe Generale - Forge to Provide Technology and Expertise for its Central Bank Digital Currency Experiments
Societe Generale – Forge, the digital capital markets platform of the Societe Generale Group, has selected ConsenSys to provide technology and services as part of its ongoing Central Bank Digital Currency (CBDC) pilot activities.
As part of this partnership, Societe Generale – Forge will continue to build upon its recent groundbreaking achievements such as 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.
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.
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.”
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.”
ConsenSys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, and Diligence, serves millions of users, supports billions of blockchain-based queries for our 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, we are building the digital economy of tomorrow. To explore our products and solutions, visit http://consensys.net/.
About Societe Generale – Forge
Societe Generale – Forge is a fully integrated subsidiary of Societe Generale Group. We 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 we 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 is progressively building its ‘compliant by design’ platform capabilities.
About Societe Generale
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 138,000 members of staff in 62 countries and supports on a daily basis 29 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
- French Retail Banking which encompasses the Societe Generale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
- International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
- Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index. For more information, you can follow us on Twitter @societegenerale or visit our website www.societegenerale.com