Banque de France and Bank of France complete blockchain-based repo transaction
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Foresight News reported that Societe Generale's digital asset subsidiary SG-Forge and the Banque de France have announced the completion of the first blockchain-based repurchase transaction in the Eurozone. 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 Crypto-Asset Markets (MiCA) framework, SG-Forge is actively exploring use cases for its euro stablecoin EUR CoinVertible (EURCV).
The Societe Generale stated that this transaction demonstrates the technical feasibility of blockchain-based interbank refinancing activities and showcases the potential of CBDC in enhancing the liquidity of digital financial securities.
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