Societe Generale Accepts $10 Million in Tokenized US Treasuries as Collateral on Canton Network

Societe Generale has accepted $10 million in tokenized US Treasuries as collateral on @CantonNetwork ($CC), in a test of how traditional collateral workflows can run on blockchain infrastructure. The French bank announced the transaction on November 2, 2026, saying it was completed by its Prime Services & Clearing division.

The Treasuries were tokenized during the soft launch of the Depository Trust & Clearing Corporation's Tokenization Service, run by @The_DTCC. According to the bank, the transaction showed that tokenized versions of US Treasuries can be transferred onchain and reflected in its existing back-office and collateral systems, while operating within its governance, risk and control framework.

How the DTCC Tokenization Service Fits In

DTCC's subsidiary, the Depository Trust Company (DTC), launched the service on October 28. CryptoSlate reported that DTCC listed 34 eligible securities at launch, covering select Russell 1000 equities, exchange-traded funds and US Treasuries. DTCC said 20 participants had signed access agreements at launch.

Canton Network is one of the first two networks connected to the service. DTCC's launch announcement names Canton and its own private Besu network as the first connections, according to a summary of the launch.

Cryptonews reported that DTCC's service fact sheet specifies the tokens are backed 1:1 by securities held at DTC, which maintains the official ownership records. The same report noted that the bank's acceptance of the tokens as collateral does not change how DTC treats them internally.

Next Steps for the Bank

Societe Generale has worked on Canton for the past year. Its digital asset subsidiary, SG-FORGE, has already deployed dollar stablecoins on the network. The bank said that, building on this first transaction, it intends to progressively develop support for recurring collateral movements and evaluate additional eligible tokenized securities.

The transaction is small relative to the size of the US Treasury market. It is nonetheless an early example of a large bank using tokenized government debt as collateral inside its own operating systems, rather than only issuing or holding tokenized assets. Cryptonews noted the deal followed a plan the bank announced in May to accept tokenized assets as collateral on Canton.