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.
Source: SG
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
https://www.marketsmedia.com/as-technology-evolves-asset-managers-adapt-and-innovate/
Citi Changes Organizational Structure
https://www.marketsmedia.com/citi-changes-organizational-structure/
SEC Charges Virtu for Disclosures Relating to Information Barriers
https://www.marketsmedia.com/sec-charges-virtu-for-disclosures-relating-to-information-barriers/
ICE Futures Singapore Partners with CoinDesk Indices
https://www.marketsmedia.com/ice-futures-singapore-partners-with-coindesk-indices/
Related articles
-
Institutions will be able to use crypto & tokenized funds as off-exchange collateral for trading.
-
Susquehanna Private Equity Investments, IMC and CTC were co-investors.
-
The MENA bank will be able to provide discretionary services to its wealth management customers.
-
The network is expected to have a significant market impact in capital and liquidity management.
-
If US Treasuries no longer offer a safe haven, this scenario is more serious than 2008.