• Latest
  • Trending
Third Largest Bank of France Submits a Proposal on MakerDao for M Security Tokens Refinancing

Third Largest Bank of France Submits a Proposal on MakerDao for M Security Tokens Refinancing

October 2, 2021
Bitcoin stays out of fear for 11 straight days as price tips near 24K

Bitcoin stays out of fear for 11 straight days as price tips near 24K

January 29, 2023
Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

January 29, 2023
Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

January 29, 2023
Panama’s Supreme Court to rule on cryptocurrency legislation

Panama’s Supreme Court to rule on cryptocurrency legislation

January 29, 2023
DOGE Price Analysis for January 29

DOGE Price Analysis for January 29

January 29, 2023
AAVE Gets Cleared Of Bad Debt

AAVE Gets Cleared Of Bad Debt

January 29, 2023
the recent rally in Bitcoin may not be ‘sustainable’

the recent rally in Bitcoin may not be ‘sustainable’

January 29, 2023
North Korean hackers launder $27M ETH from Harmony Bridge attack

North Korean hackers launder $27M ETH from Harmony Bridge attack

January 29, 2023
Mina, MATIC Come Into Spotlight as ZK Tokens Start Gaining Momentum

Mina, MATIC Come Into Spotlight as ZK Tokens Start Gaining Momentum

January 29, 2023
  • Privacy Policy
Sunday, January 29, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

Third Largest Bank of France Submits a Proposal on MakerDao for M Security Tokens Refinancing

J_News by J_News
October 2, 2021
in Crypto Technical Analysis, Top News
0
Third Largest Bank of France Submits a Proposal on MakerDao for M Security Tokens Refinancing
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


Maker (MKR)

Third Largest Bank of France Submits a Proposal on MakerDao for $20 Million Security Tokens Refinancing

Société Générale, the third-largest bank in France with 29 million clients, is directly interacting with decentralized finance through the original DeFi protocol MakerDAO.

This week, the bank submitted a proposal for “[Security Tokens Refinancing] MIP6 Application for OFH Tokens” on the MakerDao forum.

The European investment firm’s blockchain subsidiary made a collateral onboarding application to Maker for $20 million backed by EUR bonds. The proposal reads,

“This first experiment at the crossroads between regulated and open source initiatives is intended to refinance a Covered Bond Token that has been issued last year on the Ethereum public blockchain.”

The bank’s OFH Tokens issued by Societe Generale SFH are covered bonds benefiting from a statutory privilege, which can only be traded over-the-counter (OTC).

Through this pilot use case, SG-Forge aims to refinance the OFH Tokens held by the banking giant and integrate with one of the largest DeFi protocols, MakerDAO.

As per the proposal, this transaction will allow the peer-to-contract lending platform that enables over-collateralized loans to have a different types of collateral assets from the cryptocurrencies. These will be non-volatile types of collateral assets, it added.

The DAI loan will be for up to $20 million for a maturity period of 6 to 9 months. DAI is a fully collateralized stablecoin native to Maker’s decentralized autonomous organization (DAO).

“The DAIs have been characterized as digital assets as defined under French Law,” notes the proposal.

“Turns out it was the future of France all along!” said Rune Christensen, founder of MakerDAO.

“Amazed that I had no clue about this at all the whole time. This is one of multiple recent examples in Maker Governance of how the post-foundation model of organization is proving to be more scalable.”

AnTy

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.





Source link

Related articles

Bitcoin stays out of fear for 11 straight days as price tips near 24K

Bitcoin stays out of fear for 11 straight days as price tips near 24K

January 29, 2023
Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

January 29, 2023
ShareTweetShareShare
Previous Post

The focus of the blockchain climate discussion is missing the point

Next Post

Axie Infinity Raises $860K While Their AXS Token Rises 55% In The Last 24 Hours

Related Posts

Bitcoin stays out of fear for 11 straight days as price tips near 24K

Bitcoin stays out of fear for 11 straight days as price tips near 24K

by J_News
January 29, 2023
0

Bitcoin (BTC) has just clocked its 11th consecutive day outside the “Fear” zone in the Crypto Fear and Greed Index,...

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

Lead Shiba Inu (SHIB) Developer Urges Community to Keep Popcorn Ready

by J_News
January 29, 2023
0

Alex Dovbnya As the launch date inches closer, the Shiba Inu community is patiently awaiting further updates from the development...

Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

Guide to Achieving a Strong Blockchain Marketing Strategy in 2023

by J_News
January 29, 2023
0

Blockchain technology has been rapidly growing in popularity over the past few years, and it is expected to continue its...

Panama’s Supreme Court to rule on cryptocurrency legislation

Panama’s Supreme Court to rule on cryptocurrency legislation

by J_News
January 29, 2023
0

Panama's crypto bill saga has reached a new chapter, with the country’s Supreme Court set to decide the future of...

DOGE Price Analysis for January 29

DOGE Price Analysis for January 29

by J_News
January 29, 2023
0

Buyers remain stronger than sellers even on the last day of the week. DOGE/USD DOGE is not an exception, rising...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

Web3.0 Game project Magic Fantasy has completed $3 M private round investment.

Web3 vs Web2 – What Are Some Of The Core Differences?

Crypto Adventure Launches Crypto Guest Post Services

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT