According to Deep Tide TechFlow, on December 13, as reported by CoinDesk, Société Générale's digital asset subsidiary SG-Forge completed the first blockchain repo transaction in the Eurozone with the Banque de France.
SG-Forge used bonds issued on the Ethereum blockchain in 2020 as collateral in exchange for central bank digital currency (CBDC) issued by the Banque de France on its DL3S blockchain. Under the framework of the EU's Markets in Crypto-Assets (MiCA) regulation, SG-Forge is actively exploring use cases for its euro stablecoin EUR CoinVertible (EURCV).
Société Générale stated that this transaction demonstrates the technical feasibility of interbank refinancing operations using blockchain, showcasing the potential of CBDC in enhancing the liquidity of digital financial securities.