Societe Generale – Forge, a regulated subsidiary of Societe Generale licensed as an investment firm under MiFID 2 regulation, and dedicated to digital assets and blockchain-based projects, has submitted an MIP6 application to the MakerDAO Community to refinance a Covered Bond Token that was issued last year on the Ethereum blockchain.

This type of initiative from one of the biggest financial services groups in Europe is to be applauded particularly given the heat being applied to DeFi by global regulators. This will be an interesting story to follow.