{"id":72513,"date":"2023-01-13T17:37:50","date_gmt":"2023-01-13T15:37:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72513"},"modified":"2025-09-09T01:06:51","modified_gmt":"2025-09-08T22:06:51","slug":"societe-generale-borrows-7-million-in-dai-from-makerdao","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/societe-generale-borrows-7-million-in-dai-from-makerdao\/","title":{"rendered":"Soci\u00e9t\u00e9 G\u00e9n\u00e9rale borrows $7 million in DAI from MakerDAO"},"content":{"rendered":"<p>The financial group Soci\u00e9t\u00e9 G\u00e9n\u00e9rale borrowed $7 million in DAI through a loan from the DeFi platform MakerDAO.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Another milestone in <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\">#DeFi<\/a><a href=\"https:\/\/twitter.com\/SocieteGenerale?ref_src=twsrc%5Etfw\">@SocieteGenerale<\/a> Forge \ud83c\uddeb\ud83c\uddf7 casually taking a $7M loan \ud83d\udcb0 from <a href=\"https:\/\/twitter.com\/MakerDAO?ref_src=twsrc%5Etfw\">@MakerDAO<\/a> \ud83d\ude80while pledging a AAA covered bond as collateral. Actually a cross-currency repo as the collateral is in \u20ac and the loan in $ ($DAI). <a href=\"https:\/\/t.co\/2WPzdI1P6X\">https:\/\/t.co\/2WPzdI1P6X<\/a> <a href=\"https:\/\/t.co\/mPVp9z75vn\">pic.twitter.com\/mPVp9z75vn<\/a><\/p>\n<p>\u2014 S\u00e9bastien Derivaux (@SebVentures) <a href=\"https:\/\/twitter.com\/SebVentures\/status\/1613528241779736582?ref_src=twsrc%5Etfw\">January 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In July 2022, the MakerDAO<a href=\"https:\/\/forklog.com\/en\/news\/makerdao-to-provide-100-million-loan-to-a-us-bank\"> approved<\/a> Soci\u00e9t\u00e9 G\u00e9n\u00e9rale&#8217;s participation as a borrower on the platform.<\/p>\n<p>The collateral consisted of $40 million mortgage-backed bonds, governed by French law.<\/p>\n<p>The borrowing limit was set at $30 million.<\/p>\n<p>The engagement with Soci\u00e9t\u00e9 G\u00e9n\u00e9rale is an example of the platform generating income from real-world assets (uncorrelated with cryptocurrencies).<\/p>\n<p>Earlier in July 2022, the MakerDAO<a href=\"https:\/\/forklog.com\/en\/news\/makerdao-to-provide-100-million-loan-to-a-us-bank\"> approved<\/a> creation of a $100 million DAI vault for the American Huntington Valley Bank.<\/p>\n<p>In October, through its subsidiary Forge <a href=\"https:\/\/www.amf-france.org\/en\/professionals\/fintech\/my-relations-amf\/obtain-dasp-authorisation\">\u043f\u043e\u043b\u0443\u0447\u0438\u043b<\/a> a licence to operate as a digital asset service provider from the French market regulator AMF.<\/p>\n<p> Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial group Soci\u00e9t\u00e9 G\u00e9n\u00e9rale borrowed $7 million in DAI through a loan from the DeFi platform MakerDAO.<\/p>\n","protected":false},"author":1,"featured_media":72514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1099,1100,1818],"class_list":["post-72513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dai","tag-makerdao","tag-societe-generale"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=72513"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72513\/revisions"}],"predecessor-version":[{"id":72515,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72513\/revisions\/72515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72514"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}