Precedent Stablecoin Agreement Between French Bank and MakerDAO

France-based multinational investment bank Societe Generale has received a $7 million DAI stablecoin loan from MakerDAO (MKR).

Societe Generale from MakerDAO 7 million dollars DAI received a stablecoin loan. Societe Generale to receive this loan as collateral within the bank Home loan bonds worth $40 million used. Thus, between traditional finance and decentralized finance an arm’s length deal has been provided.

In line with a decision approved by the MakerDAO community members last year, the Societe Generale company has created a MakerDAO vault had opened. According to official data collected by MakerBurn, this particular vault A debt ceiling of $30 million exists. According to the agreement, Societe Generale, upon request $23 million more stablecoin loan.

In addition, Societe Generale will be able to offer cryptocurrency trading and custody services in mid-October. License from the regulator agency of France had received.

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