Today Societe Generale – FORGE (SG – FORGE) announced that METACO will provide digital asset custody for participants in SG-FORGE’s security token issuances. SG – FORGE is a digital asset pioneer, one of the first to use public blockchain for regulated security tokens. Apart from issuing a bond for Societe Generale on Ethereum, the European Investment Bank (EIB) also issued a €100 million bond using its platform.
SG – FORGE has also been involved in central bank digital currency (CBDC) trials with the Banque de France, and created a framework, CAST, for security token issuance. Earlier this month, the EU finalized the legislation for DLT Pilots for tokenized securities, and SocGen FORGE expects to be a major player.
“Bridging the digital asset industry and traditional finance requires a multifaceted approach incorporating institutional-grade technology, regulation, as well as industrial capacities,” said Jean-Marc Stenger, CEO of Societe Generale – FORGE.
“By partnering with METACO, SG – FORGE will be able to leverage their secure infrastructure to ensure that we have a solid foundation to grow our digital asset market activities.”
This is the latest big bank win for Swiss-based digital asset custody firm METACO. While the deal is with SG – FORGE, sister firm Societe Generale Securities Services has €4.4 trillion in assets under custody as of March.
Earlier this month, METACO announced a deal with Citi that joins Standard Chartered’s Zodia, DBS Bank and BBVA, amongst others.