SocGen Issues First Digital Green Bonds on Ethereum
Societe Generale has announced that it has issued its first digital green bonds on Ethereum through its digital-asset arm SG-FORGE. The initial issuance is worth approximately €10 million and has attracted early adopters such as AXA Investment Managers and Generali Investments. SocGen plans to develop two important innovations regarding the carbon emissions of issuers and investors’ securities, as well as settling securities on-chain. The bank also intends to experiment with Central Bank Digital Currencies (CBDCs). This move aligns with SocGen’s commitment to building an innovative sustainable bond market using its financial structuring expertise and technological capabilities.
SocGen’s Growing Interest in Blockchain Technology
Societe Generale, one of France’s largest banks, has been making strides in the blockchain sector. As the country’s third largest bank by total assets under management, SocGen obtained a license last July to trade and custody cryptocurrency and other digital assets. Their recent issuance of digital green bonds on the Ethereum blockchain reflects the increasing interest of traditional finance in blockchain technology. This move is also in line with France’s efforts to become Europe’s main crypto hub, including implementing a training program for crypto and finance influencers to improve compliance and protect investors.
Hot Take: SocGen Embracing Sustainable Finance and Blockchain Technology
Societe Generale’s issuance of digital green bonds on Ethereum showcases their commitment to sustainable finance and their firm belief in the potential of blockchain technology. By introducing innovative solutions for measuring carbon emissions and enabling on-chain settlement, SocGen is leading the way in developing an innovative and eco-friendly bond market. This move not only positions SocGen as a pioneer in the crypto space but also contributes to France’s goal of becoming a prominent player in the blockchain industry. As traditional financial institutions continue to explore the benefits of blockchain, we can expect further integration of this technology in various sectors.
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