Blockchain-focused technology firm ConsenSys announced on October 28 that it entered into a digital currency cooperation with the Central Bank of France (Banque de France). Thus, the company signed its sixth digital money project with central banks.
ConsenSys, which is also an Ethereum software company, announced that they will collaborate with Société Générale Forge in digital money studies. Société Générale Group, a large financial services group, works for digital capital markets through the Société Générale Forge platform.
HSBC is also included in the French digital currency project
The Bank of France has not only agreed with SG Forge for digital money. Agreed companies include names such as Accenture, Euroclear and HSBC. Prior to this announcement, the Central Bank of France and the Société Générale Group carried out a pilot project this May. Accordingly, a tokenized 40 million euro banknote was issued with the support of the central bank within the scope of the cooperation.
It is among other information that the studies will focus on various developments along with the ConsenSys technology. Among these innovations are cross-ledger compatibility and delivery-versus-payment (DvP) steps.
Cryptocurrency development in India
Indian bank United Multistate Credit Co. Operative Society announced in a statement that it will expand its banking services to cryptocurrencies and cryptocurrency products. United partnered with cryptocurrency banking service provider Cashaa for this. Following this cooperation, online cryptocurrency banking services will be offered at 34 physical branches in North India.
This project, known as UNICAS, could be implemented after the ban on cryptocurrency banking, which was lifted by the Supreme Court of India in March 2020. With the UNICAS project, customers will be able to purchase Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Cashaa (CAS) in cash or directly from their accounts.