Societe Generale announces the successful completion of a collateralized market transaction fully executed on blockchain through its subsidiary Societe Generale – FORGE. This is the first repo transaction (Sale and Repurchase Agreement) in digital securities (Security Tokens) with an Eurosystem’s central bank.
Societe Generale deposited as collateral with the Banque de France some bonds issued in 2020 on the public Ethereum blockchain in exchange of Central Bank Digital Currency (CBDC) issued by the Banque de France on its DL3S blockchain.
„This transaction demonstrates the technical feasibility of interbank refinancing operations directly on blockchain. It illustrates the potential of a Central Bank Digital Currency to improve the liquidity of digital financial securities. This pioneering deal demonstrates Societe Generale’s commitment to leveraging its financial structuring expertise and SG-FORGE’s technological capabilities to contribute building innovative financial markets.” – according to the press release.
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Societe Generale-FORGE, an integrated and regulated subsidiary of the Societe Generale Group, is licensed as an investment firm and authorised to provide MiFID II investment services under the supervision of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF), authorised as an electronic money institution by the ACPR, and registered and licensed as a digital asset service provider (DASP) by the AMF. Societe Generale-FORGE is the issuer of the
EUR CoinVertible (EURCV) a MiCA-compliant stablecoin.
Societe Generale-FORGE has built an open, secure and institutional-grade platform for digital asset trading, backed by bankgrade security and regulatory compliance. The digital solutions and assets developed by SG-FORGE are in line with the CAST open-source interoperability and security marketplace model.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
