MakerDao Lends $7 Million in DAI Tokens to Société Générale
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Financial conglomerate Société Générale has just raised $7 million in DAI tokens through a loan from DeFi platform MakerDAO.
As reported, members of the MakerDAO community approved Société Générale’s participation as a platform borrower in July.
The collateral for the loan were $40M in mortgage-backed bonds regulated by French law.
The borrowing limit is set at $30 million. The interaction with Société Générale is an example of platform revenue generation from real world assets.
The MakerDAO community approved in July last year the creation of a vault with a limit of $100 million in DAI for the American Huntingdon Valley Bank.
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