Societe Generale has announced the successful completion of a market transaction using blockchain technology. This was executed through its subsidiary, Societe Generale - FORGE. The transaction marks the first repo (Sale and Repurchase Agreement) involving digital securities, or Security Tokens, with a central bank in the Eurosystem.
In this transaction, Societe Generale used bonds issued in 2020 on the public Ethereum blockchain as collateral. These were deposited with the Banque de France in exchange for Central Bank Digital Currency (CBDC), which was issued by the Banque de France on its DL3S blockchain.
The deal highlights the technical feasibility of conducting interbank refinancing operations directly on blockchain platforms. It also shows how Central Bank Digital Currency can potentially enhance the liquidity of digital financial securities.
According to Societe Generale, this pioneering transaction demonstrates their commitment to utilizing their financial structuring expertise along with SG-FORGE's technological capabilities to help build innovative financial markets.
Press contacts are available for further inquiries:
- Societe Generale: Fanny Rouby (+33 1 57 29 11 12, fanny.rouby@socgen.com) and Sarah Cohen Lippe (+33 1 58 98 51 91, sarah.cohen-lippe@socgen.com).
- SG-FORGE – PR Agency Ballou: +33 1 42 22 24 10, sg-forge@balloupr.com.