Societe Generale Forge Chooses Tezos for CBDC Experiments

Societe Generale – Forge

Societe Generale Forge announced on Tuesday 15 September choosing the Tezos blockchain for Central Bank Digital Currency (CBDC) experiments.

Tezos is a decentralised, public blockchain that evolves by upgrading itself. 

This comes after Banque de France selected SG Forge in July to experiment the use of CBDC for interbank settlements. 

The experiment will explore the feasibility of digitally settling and delivering financial securities in Central Bank Digital Currency.

Moreover, it clarified that a group of technology providers and advisors, including Nomadic Labs, will participate in the project.

Nomadic Labs is one of the largest research and development centres in the Tezos ecosystem.

“The Tezos project, strengthened by its technical capabilities, its adaptability, and its strong community, is already present in various projects, both in France and abroad.”

“We are especially pleased to see this technology selected by Societe Generale Forge, and to reaffirm, once again, that the quality and expertise of our engineering is rewarded.”

President of Nomadic Labs, Michel Mauny

Earlier CBDC steps

“Since the start of the year, the Banque de France has embarked on an experimental approach to CBDC,” a press release stated back in May.

The bank seeks to explore new technologies with partners to improve the functioning of financial markets and more interbank regulations.

In March, Banque de France called for applications to experiment with the use of a digital euro for interbank settlements. 

“The aim is to explore the potentialities offered by the technology,” it added.

Moreover, it targets identifying concrete cases integrating CBDC in innovative procedures for the clearing and settlement of tokenised financial assets.

Bank Governor François Villeroy de Galhau announced in December his desire to have France as the first country to issue a digital currency, according to Decrypt.

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Hanan Hamed 48 Articles
a bilingual journalist. She writes in both Arabic and English. She has been writing news and features for 7 years now. She is specialized in business and economic news.