France: Société Générale chooses Tezos for its central bank cryptocurrency

The Banque de France has selected Société Générale for the experiments.

Société Générale (via its subsidiary Forge) has selected the Tezos blockchain to experiment with a central bank digital currency (CBDC)

On July 20, 2020, the Banque de France selected Société Générale as part of its call for applications to experiment with the use of a central bank digital currency for interbank settlements. Nomadic Labs will participate in the project and bring its technological expertise.

Michel Mauny, President of Nomadic Labs, said:

The Tezos project, with its technical capacities, its adaptability and its strong community, is already present in various projects, both in France and abroad. We are particularly happy to see this technology selected by Societe Generale – Forge, and to reaffirm, once again, that the quality and expertise of our engineering are rewarded.

Tezos, Nomadic Labs and Société Générale will jointly explore the potential contributions of a digital currency issued by a central bank to improve the functioning of financial markets.

Nomadic Labs is one of the largest research and development centers in the Tezos ecosystem. Based in Paris, it brings together more than 40 engineering researchers working on the development of the Tezos protocol.

Nomadic Labs is supported by the Tezos foundation which has invested more than 33 million euros in the global blockchain ecosystem, including 11 million euros in France.