12.13.2024

Banque de France Completes First Repo on Public Blockchain

12.13.2024
Banque de France Completes First Repo on Public Blockchain

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

 

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    The French bank will remain a systematic internaliser for equity and equity-like instruments.

  2. This marks the next step in ING’s strategy to use large language models for financial intelligence.

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  4. Integration of SG-FORGE’s CoinVertible stablecoin will foster financial innovation in both groups.

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