The Deutsche Börse Group announced an agreement with Societe Generale Group and Societe Generale – FORGE (SG-FORGE) to integrate stablecoins. The aim is to provide a digital settlement solution to Deutsche Börse clients. SG-FORGE was the first subsidiary of a systemically important bank to launch a stablecoin, the EURCV Coinvertible. More recently it started issuing a US dollar version, USDCV.
The two firms will explore the use of the EURCV and USDCV stablecoins for securities settlement as well as collateral management. This will complement other recent launches by the Deutsche Börse Group. In July Eurex Clearing accepted collateral which was transferred using the HQLAx DLT platform. The stablecoins will be used as both on- and off-chain collateral. And earlier this month Deutsche Börse’s Clearstream launched the D7 tokenization platform, where the stablecoins will be used for settlement. Additionally, the stock exchange group recently inked a deal with stablecoin issuer Circle.
Beyond digital securities settlement, the companies mentioned that the stablecoins would be listed on Deutsche Börse digital platforms which include 3DX and Crypto Finance. Plus, Clearstream plans to use the stablecoins for treasury management. Typically this involves being able to transfer funds between jurisdictions 24/7. Clearstream supports its clients in making investments around the world, which requires the movement of funds. For example, since the US moved to T+1 settlement it is challenging for Asian investors to pay in a timely fashoin.
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