Transactions
SOCIETE GENERALE–FORGE BORROWS DAI STABLECOIN FROM DECENTRALISED FINANCE PROTOCOL MAKER DAO TO EXTEND LOAN
17 Jan 2023Societe Generale–FORGE has granted a loan to its mother company Societe Generale to refinance covered bonds held by the bank in the form of Security Tokens issued natively on the Ethereum public blockchain (the OFH Tokens). SG-FORGE funded this loan in the crypto market by borrowing DAI stablecoins from MakerDAO, a market-leading decentralized finance (‘DeFi’) protocol. The OFH Tokens were used as loan collateral and pledged by SG-FORGE to the benefit of the MakerDAO protocol.