Societe Generale to Use as Many as Five Blockchains in Capital Markets Trials

A tech-focused subsidiary of Societe Generale said it will trial up to five different blockchains to understand their usefulness in capital markets.

AccessTimeIconSep 17, 2020 at 2:59 p.m. UTC
Updated Sep 14, 2021 at 9:57 a.m. UTC

The tech arm of Societe Generale has confirmed plans to use up to five different blockchains to test digital securities and a central bank digital currency (CBDC).

  • Earlier this week, Forge, a tech-focused subsidiary of the French investment bank, announced it was experimenting with the Tezos blockchain to gauge how useful it would be for capital market activities.
  • But speaking to CoinDesk, Jean-Marc Stenger, the CEO of Forge, said it is considering running trials on a handful of blockchains, although he declined to disclose which ones.
  • He added Societe Generale hopes to ultimately support up to five separate blockchains.
  • Tezos is the second blockchain tested by Societe Generale. Last year, the bank completed a $100 million bond issuance on Ethereum.
  • Tezos' protocol and consensus proof-of-stake algorithm as well as its on-chain governance and smart contract language will be utilized to test the use of blockchains for "high-value financial applications," per a press release Tuesday.
  • Forge Chief Technology Officer Stephane Duzan said Forge chose Tezos because it provides the company with the freedom to develop features that would be much harder to do on older protocols.
  • Being able to work across multiple blockchains would also improve interoperability and liquidity for clients, he said.
  • The tech arm will also use Tezos for a central bank digital currency (CBDC) experiment primarily for interbank settlements – it has run in concert with the French central bank and financial regulators since the summer.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.