Societe Generale
The stablecoin marks the first time a regulated European bank has made a euro-pegged stablecoin available on a crypto exchange
The transaction amounts to 10 million euros, or roughly $10.8 million, and has a maturity of three years
Societe Generale’s SG-Forge became the first crypto firm to gain a full license in France back in July
A “reputable agent” separate from the bank’s crypto team will manage the stablecoin’s collateral
In August, MakerDAO added the bank’s digital asset-focused subsidiary, Societe Generale–Forge, to its vaults with a credit limit of $30 million in DAI after a unanimous vote
European plans for a Central Bank Digital Currency (CBDC) are moving from a research and experimental phase to practical applications.
Société Générale will experiment with using regulated security tokens on Ethereum to back a stablecoin loan in historic merging of TradFi and DeFi.
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