France's third-largest bank, Societe Generale, reported issuing its first digital green bond as a security token on the public ethereum blockchain. The bond, registered by Forge, a subsidiary of Societe Generale, was public on November 30.
The bond is worth 10 million euros (about $11 million) and has a maturity of three years. Its “green” status means that its net proceeds will be used to finance or refinance products and companies classified in the category of eligible green activities.
Related: Tether's 'new era for capital increases', Bitfinex bond stutters
The bond's digital infrastructure grants 24/7 open access to data about your carbon footprint through the bond's smart contract. According to the bank:
“This allows issuers and investors to measure the carbon emissions of their securities in the financial infrastructure.”
Another innovation of the bond is a technical option for investors to settle securities on-chain via EUR CoinVertible, a euro-pegged stablecoin issued by Forge in April 2023. Societe Generale eyes next wave of central bank digital currencies (CBDC). ) with this option:
“While piloting central bank digital currency (CBDC) solutions, this settlement methods dashboard demonstrates SG-FORGE’s strong capabilities in providing a full spectrum of on-chain services.”
Societe Generale has been active in the crypto sector, ethereum-blockchain”>issuing euro bonds on the ethereum blockchain and security tokens on the Tezos blockchain, as well as proposing to lend Dai stablecoins (DAI) in exchange for bond tokens. In July 2023, Forge became the first company to obtain the highest access license for crypto services in France.
Magazine: Real ai and crypto Use Cases #4: Fight ai Counterfeits with Blockchain
