• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Societe Generale Bank information a “historic” twenty million DAI loan on MakerDAO

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Bank Societe Generale has presented a surprising proposal to MakerDAO, wanting to borrow twenty million DAI in exchange for a safety token bond.

Societe Generale Bank information a “historic” twenty million DAI loan on MakerDAO

Societe Generale, the third biggest financial institution in France and sixth biggest in Europe, on the morning of October 1st induced the MakerDAO (MKR) local community to “stop” when it presented a proposal to borrow twenty million stablecoins Dai (DAI).

Related articles

Hong Kong cryptocurrency exchange Hounax scammed users out of $15.4 million

Hong Kong cryptocurrency exchange Hounax scammed consumers out of $15.four million

November 27, 2023
Binance Labs invests $3.15 million in Open Campus, EDU builds columns

Binance Labs invests $three.15 million in Open Campus, EDU builds columns

November 27, 2023

Societe Generale’s proposal, entitled “Security Tokens Refinancing”, marks the to start with time in historical past that a regular financial institution has partnered with a DeFi business protocol. The financial institution also describes it as “the first test of authorized institutional and open finance initiatives”.

Specifically, Societe Generale’s loan system is as follows: the financial institution will use OFH safety tokens as collateral to borrow twenty million DAI from MakerDAO. The loan will be disbursed by a series of intermediaries and matures in six-9 months.

twenty million DAI loan procedure from Societe Generale Bank Societe Generale. by MakerDAO

OFH are safety tokens that have been acknowledged as bonds by French law. These tokens had been issued by Societe Generale on Ethereum in May 2020 for a worth of $ forty million. They have an curiosity price of % and will expire in May 2025. Societe Generale has also assigned OFH a credit score rating and is rated AAA by Moody’s and Fitch.

MakerDAO founder Rune Christensen himself mentioned he was totally astonished by Societe Generale’s proposal.

Société Générale, the third biggest financial institution in France, has just submitted a $ twenty million collateral onboarding request to Maker.

Backed by EUR bonds, proposed by their blockchain subsidiary.https://t.co/hxGEMOIWjy

– Rune Christensen (@RuneKek) September 30, 2021

Societe Generale’s proposal will be mentioned and voted on by the MakerDAO local community in the coming weeks. Considering the value and complexity of the deal, the MakerDAO local community is probable to consider a lengthy time to feel very carefully.

The truth that MakerDAO has been contacted by a key economic institution, coupled with the information that Visa is creating a remittance network on Ethereum’s Layer two, is creating the ETH local community exceptionally enthusiastic about the prospect of the network. planet.

in 24 hrs, two of the biggest economic institutions created massive announcements

Visa with their L2 system

Société Générale with the try to make its on-chain sources usable in Maker

and you are asking yourself if Ethereum will develop into a international settlement tier

It is taking place now

– DCinvΞstor (@iamDCinvestor) September 30, 2021

“In just 24 hrs, two of the biggest economic institutions in the planet created key announcements. Visa announced strategies to do L2, Societe Generale place its safety token as collateral to borrow DAI from Maker DAO.

If you are asking yourself when Ethereum will develop into the world’s primary payment network, it really is previously finding commenced. “

Synthetic currency 68

Maybe you are interested:

Maybe you are interested:

Tags: BankDAIGeneraleHistoricLoanMakerDAOmillionrecordsSociete
Share76Tweet47

Related Posts

YZi Labs Invests in Decentralized Platform MEET48

by shark
June 27, 2025
0

YZi Labs, the investment arm of Binance, focuses on strategic crypto ventures and announced its investment in MEET48 to reshape...

Melania-Linked Wallets Reported to Sell Amid Price Drop

by shark
June 27, 2025
0

Explore the impact of recent cryptocurrency sales linked to Melania Trump causing a 98.4% price crash. Understand the role of...

Bitcoin Faces Volatile Market as Net Taker Volume Surges

by shark
June 27, 2025
0

Bitcoin nears a volatile market shift as the Net Taker Volume on Binance exceeds $100M.

OORT DataHub Launches DeAI App on Binance Wallet

by shark
June 27, 2025
0

OORT DataHub integrates its DeAI dApp on Binance Wallet, reaching 486 million users.

World Liberty Financial Prepares WLFI Transferability Amid Rising Demand

by shark
June 27, 2025
0

World Liberty Financial to make WLFI tokens transferable, spurring institutional interest and market activity.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • YZi Labs Invests in Decentralized Platform MEET48
  • Melania-Linked Wallets Reported to Sell Amid Price Drop
  • Bitcoin Faces Volatile Market as Net Taker Volume Surges
  • OORT DataHub Launches DeAI App on Binance Wallet
  • Qubetics Nears $0.40 Listing as Solana and Avalanche Shift During Ceasefire – Next Bull Run Crypto?
  • World Liberty Financial Prepares WLFI Transferability Amid Rising Demand
  • Metaplanet Surpasses Tesla in Bitcoin Holdings
  • Binance Delists Five Tokens, Ending Spot Trading Soon
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7