Societe Generale completes first repo transaction on public blockchain
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Societe Generale completes first repo transaction on public blockchain 13 December 2024France Reporter: Daniel Tison
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Societe Generale has completed a collateralised market transaction, fully executed on a blockchain, with the Banque de France, marking its first repo transaction in digital securities with a Eurosystem's central bank.
Through its subsidiary Forge, Societe Generale deposited as collateral, bonds issued in 2020 on the public Ethereum blockchain in exchange for 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 a blockchain,” says Societe Generale. “It illustrates the potential of CBDC to improve the liquidity of digital financial securities.”
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