Société Générale has successfully completed a collaterised market transaction fully executed on blockchain through its digital asset subsidiary, Société Générale – FORGE. The bank reveals in a press release that this is the first repo transaction in digital securities achieved on public blockchain with a central bank in the Eurosystem.
The transaction dates back to 2020, when Société Générale deposited some bonds issued that year on the public Ethereum blockchain with Banque de France as collateral. It was exchanged with central bank digital currency (CBDC) issued by Banque de France’s DL3S blockchain.
Société Générale claims that the transaction “demonstrates the technical feasibility of interbank refinancing operations directly on blockchain” and “illustrates the potential of a CBDC to improve the liquidity of digital financial securities”.
