Two months ago, the Banque de France announced it had selected eight firms to participate in its wholesale central bank digital currency (CBDC) trials. One of the eight selected companies is Société Générale (SocGen) Forge, is using the Tezos blockchain as the platform for the trials. But the banks says it’s not the only protocol that it works with.
The tests aim to explore the settlement and delivery of securities with a digital Euro. Doubtless, most of the experiments will focus on on-chain settlement. And several of the chosen firms have built consortia for the tests. For example, the IZNES French fund management platform has a consortium that includes Citi.
Société Générale already has a track record with the Banque de France and CBDC. Four months ago, the Bank worked with SocGen Forge on the issue of €40 million of covered bonds on a public blockchain. The transaction was settled instantly with delivery versus payment (DvP) using central bank issued digital euros. Today the bank confirmed to Ledger Insights that this transaction used Tezos. And SocGen Forge had previously issued €100 million of security tokens on the Ethereum blockchain, but not using a CBDC.
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