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Third largest bank in France Societe Generals suggests the use of the defi protocol Makerdao-Defi
The French multinational investment bank and the financial service company Societe Generale has proposed to use the decentralized financial protocol (Defi) Makerdao. The proposal, entitled "Security Tokens Refinancing", was published on October 1st in the Makerdao forums and the submission aims to use the Dai Stable Cooin to refinance a covered bond concept. Societe Generale suggests that Makerdao and Dai use stable coins to refinance bond token The digital currency department of the International Bank Societe Generale has submitted a proposal to Makerdao's governance forums (MIP6 application) and the bank wants to refinance a bond token. The so -called "covered bond token" was held last year on the ...
Third largest bank in France Societe Generals suggests the use of the defi protocol Makerdao-Defi
Societe Generals suggests using Makerdao and Dai StableCoins to refinance bond token
The digital currency department of the International Bank Societe Generale has submitted a proposal to Makerdao's governance forums (MIP6 application) and the bank wants to refinance a bond token. The so-called "covered bond token" was output last year on the Ethereum blockchain. The proposal is on behalf of the European securities company Societe General-Forge (SG-Forn), the MIP6 application Notes.
"This experimentation with refinancing transactions is in line with the innovative process and the solutions developed by SG-Forge," explains the bank's Digital currencies. "This experimentation combines traditional capital market activities with the aspiring and growing ecosystem of decentralized finances." The summary of the SOCIESE Generals adds:
The "OFH-TOKEN": The OFH tokens are identified as a pawnbrief under French law, which are secured by housing loans and enjoy a legal privilege, issued by the Societe Generale SFH (SG SFH), a specialized credit institution with the status société de financement de l "life space, Contrôle prudenti (as described in more detail below) in the form of security token in the public blockchain by Ethereum.
Makerdaos Rune Christensen: The organizational model after the foundation proves to be a scalable
On Friday, the founder of Makerdao, Rune Christensen, explained how the International Bank from France suggested the use of the protocol. "Societe Generals, the third largest bank in France, has just made an application for collateral onboarding over $ 20 million," said Christensen. "Supported by EUR bonds, proposed by your blockchain subsidiary."
"It turned out that it was all the time about the future of France," added Christensen. "It is astonishing that I had no idea all the time. This is one of [the] several current examples in Maker Governance show how the organization's post-foundation model turns out to be more scalable."
What do you think of the digital currency department of the Societe Generals that Makerdao and Dai tokens uses to refinance a bond token? Let us know your opinion on this topic in the comments below.
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