Societe Generale uses $10 million in tokenized U.S. Treasuries as collateral

Societe Generale moved $10 million in tokenized U.S. Treasuries as collateral via DTCC's tokenization service on the Canton Network, marking a live transfer of tokenized collateral between market participants. Salim Nemouchi, head of global equities for the Americas at the bank, said the transaction demonstrates that tokenized collateral can move across counterparties. The service initially focuses on U.S. Treasuries held by DTCC members and custodied at DTC. The deal matters as a concrete step toward using blockchain-based tokens for collateral mobility in traditional repo and funding markets. Next, watch for broader DTCC member participation and whether such transfers scale beyond pilot-sized volumes.