TechFlow news, December 13 — According to CoinDesk, Societe Generale’s digital asset subsidiary SG-Forge has completed the eurozone’s first blockchain-based repurchase transaction with the Banque de France.
SG-Forge used bonds issued on the Ethereum blockchain in 2020 as collateral to obtain central bank digital currency (CBDC) issued by the Banque de France on its DL3S blockchain. Under the EU’s Markets in Crypto-Assets (MiCA) regulatory framework, SG-Forge is actively exploring use cases for its euro-denominated stablecoin, EUR CoinVertible (EURCV).
Societe Generale stated that the transaction demonstrates the technical feasibility of blockchain-based interbank refinancing and highlights the potential of CBDCs in enhancing liquidity for digital financial securities.
