Alapt

Cryptocurrency news

Societe Generale Bank has engaged Consensus to develop a digital euro

Societe Generale Bank has engaged Consensus to develop a digital euro

ConsenSys has signed its sixth agreement to participate in the development of a state-owned cryptocurrency, this time for the European Union.

Forge, a subsidiary of Societe Generale, has engaged ConsenSys in research to develop the digital euro. Forge previously participated
in a $112 million bond issue on the Ethereum blockchain, and was one of eight companies selected by the French Central Bank to test the state-owned cryptocurrency.

Forge CEO Jean-Marc Stenger called the ConsenSys connection the right choice to explore the possibilities of digital government currencies. He called the American firm “a key player in the development of solutions based on distributed ledger technology”, which “offers a variety of platforms and developments, tools used by the blockchain community.”

In September, it was reported that ConsenSys will help the Hong Kong Monetary Authority (HKMA) in a project to study the benefits of the state-owned cryptocurrency. As part of the project, the American company will help create the technological infrastructure for the HKMA project.