Societe Generale-FORGE Leverages Ethereum Blockchain and Wholesale CBDC for Repo Transaction
Societe Generale-FORGE (SG-FORGE) has announced the successful execution of a repurchase (repo) transaction involving a wholesale central bank digital currency (wCBDC) and a digital bond issued on a public blockchain. The bond, originally issued in 2020, was utilised in a repo trade that demonstrates the evolving role of distributed ledger technology (DLT) in financial markets. […]
Former Binance Executives Launching MiCA-Compliant Euro Stablecoin Within Two Weeks
As the Markets in Crypto-Assets Regulation (MiCA) approaches its final enforcement deadline later this year, Europe is set to welcome a new euro-backed stablecoin to the digital currency landscape. Schuman Financial, a recently established cryptocurrency firm founded by former Binance executives Martin Bruncko and Eduardo Morrison, has announced its launch, unveiling its inaugural product, the […]
40+ Financial Firms Join Project Agorá to Enhance Cross-Border Payments Using Tokenization
More than 40 private sector financial firms have joined forces with the Bank for International Settlements (BIS) and a consortium of leading central banks in Project Agorá, a groundbreaking initiative aimed at enhancing wholesale cross-border payments through tokenization. The project is being facilitated by the Institute of International Finance (IIF) and represents a significant step […]
Stellar Blockchain Chosen for New EURT Euro-Pegged Stablecoin Initiative
Ireland-based electronic money institution (EMI) DECTA is partnering with French fintech company Next Generation to introduce a new Euro-pegged stablecoin, ‘EURT’. The collaboration aims to create a fully compliant stablecoin that adheres to the Markets in Crypto-Assets (MiCA) regulations and operates on the Stellar blockchain, alongside three additional platforms. Next Generation, which has close ties […]
Banque de France and HKMA to Collaborate on Wholesale CBDC and Tokenization Effort
Last week, the Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) unveiled a significant partnership focused on the development of wholesale central bank digital currency (CBDC). This collaboration represents the HKMA’s participation in the second phase of the European Central Bank (ECB)’s Eurosystem exploratory work. It marks a pivotal moment as the […]
European Central Bank Advances Digital Euro Project to Preparation Phase
The European Central Bank (ECB) is gearing up to bolster the euro’s digital future. In an announcement made today, the ECB disclosed its decision to transition into the next stage of the digital euro project, marking the commencement of the preparation phase. This development comes on the heels of an extensive investigation phase that began […]
Project Mariana: Final Report Confirms Successful Cross-Border Trading Of Wholesale Central Bank Digital Currencies (wCBDC)
The Bank for International Settlements (BIS) in collaboration with the central banks of France, Singapore, and Switzerland has successfully trialed cross-border transactions using wholesale central bank digital currencies (wCBDC). This was revealed in a report released on Thursday. You can download it here. Under the banner of Project Mariana, a prototype was developed using simulated […]
Banque de France Reveals Wholesale CBDC Experiment Findings Using DLT Technology
The Banque de France has released new conclusions and lessons learned from its wholesale central bank digital currency (wCBDC) experiments using distributed ledger technologies (DLTs). Building on the initial report published in 2021, these findings contribute to the Eurosystem’s exploration of how wholesale financial transactions recorded on DLT platforms could settle in central bank money. […]
CBDCs on the horizon: The current state of CBDC initiatives around the world
Source: Cointelegraph Central bank digital currencies (CBDCs) have long been a topic of contested discussion, having often been met with a predominantly negative response in the crypto community. However, despite the skepticism, CBDCs undeniably serve as a significant use case for blockchain technology. BDCs distributed through blockchain technology can provide cheaper, faster and possibly more […]
SocGen digital asset unit launches EUR stablecoin
Source: Finextra SG-Forge, the digital asset division of French bank Societe Generale, has launched a euro-denominated stablecoin on the ethereum public blockhain. Dubbed the EUR CoinVertible, the asset is designed to bridge the gap between traditional capital markets and the digital assets ecosystem. The coin could be put to use as a settlement asset for […]
