Giant Leap For Growth Of Global Tokenized Financial Ecosystem
21 May 2020 — Giant leap for growth of global tokenized financial ecosystem as Société Générale performed a test transaction through a #blockchain platform, with Central Bank Digital Currency (#CBDC) issued by Banque de France.
Earlier in May, Societe Generale SFH SA, issued €40 million of covered bonds as #securitytokens directly registered on a public blockchain. The tokens were fully subscribed by Societe Generale which simultaneously paid the issuer in a digital form of euros issued by Banque de France through a blockchain platform.
Societe Generale said that the project demonstrated the feasibility of financial securities being digitally settled and delivered in CBDC for interbank settlements.
Banque de France said that in the next few weeks, experiments will be conducted with other players, to test the use of a central bank digital euro in interbank regulations.
This is definitely fantastic news for our security token’s ecosystem and its players. With the starting of the French regulator working with its commercial bank for security tokens settlements through CBDC, this will hopefully pave way for other countries to follow suit, thereby creating a viable and thriving tokenized financial market infrastructure in the future.