6 months ago
Societe Generale said it carried retired a blockchain-based repurchase statement with the Banque de France successful what it called the archetypal specified tokenized transaction with a euro-zone cardinal bank.
The lender's integer assets-focused subsidiary, SG-Forge, deposited arsenic collateral immoderate bonds issued successful 2020 connected the nationalist Ethereum blockchain successful speech for cardinal slope integer currency (CBDC) issued by the Banque de France connected its DL3S blockchain, it said successful a property release.
With the European Union's Markets successful Crypto Assets (MiCA) regulatory model already successful spot for stablecoin issuers, SG-Forge has maintained a precocious illustration exploring ways to deploy its euro stablecoin, EUR CoinVertible (EURCV). The token was not progressive successful the repo transaction.
The Banque de France, meanwhile, has been energetically testing the feasibility of wholesale CBDCs to amended things similar cross-border payments and colony finality. Broadly speaking, blockchain-based repo transactions person proved to beryllium one of the much compelling uses of the tech among banks.
“This transaction demonstrates the method feasibility of interbank refinancing operations straight connected blockchain. It illustrates the imaginable of a Central Bank Digital Currency to amended the liquidity of integer fiscal securities,” SocGen said successful a property release.
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