(1) Banks are experimenting with stablecoins amidst a wave of crypto hype that’s washing over traditional finance. Now @SocieteGenerale, one of Europe’s largest banks, is upping the ante by diving into DeFi. Its digital assets arm, SG Forge, has just integrated its euro and dollar stablecoins with @Uniswap, the largest decentralised exchange with over $100 billion in monthly trading volume, and @MorphoLabs, the second-biggest lending protocol with $11 billion in deposits. The bank’s institutional customers will be able to swap between the USDCV and EURCV stablecoins and other crypto assets on Uniswap, then lend and borrow against them through vaults on Morpho. It’s among the first instances of a bank moving beyond pilots to actively use DeFi infrastructure, and comes as crypto lending solidifies itself as the dominant DeFi use case. In early September, deposits to DeFi lending protocols soared to an all-time high of $130 billion, according to DefiLlama data. Major lending...
Show original
1.9K
5
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.