According to a press release from Societe Generale, the operation involved bonds issued on the Ethereum blockchain, used as collateral in exchange for CBDC issued on the Banque de France’s proprietary blockchain.

SG-FORGE and Societe Generale Lead the CBDC Repo Transaction

The repo transaction utilized bonds issued on Ethereum as collateral, while the Banque de France issued CBDC on its DL3S blockchain platform.

This setup allowed for the direct exchange of digital securities and central bank digital currency.

The process tested the potential of blockchain technology to facilitate interbank refinancing.

By handling both securities and currency on blockchain, the transaction explored efficiencies in liquidity management and settlement processes.

Societe Generale’s subsidiary, SG-FORGE, was responsible for executing the transaction.

The unit specializes in digital asset operations and contributed technical expertise to integrate blockchain-based assets with traditional banking frameworks.

“This transaction demonstrates the technical feasibility of interbank refinancing operations directly on blockchain. It illustrates the potential of a Central Bank Digital Currency to improve the liquidity of digital financial securities,” the release reads.