Today Societe Generale announced it issued a €5 million structured product as a security token on the Tezos public blockchain. As with previous blockchain pilots, the asset was acquired by a group company, Societe Generale Assurance, in this case. The token was for a medium term auto callable note.
Societe Generale – Forge is the regulated subsidiary that carried out this and other blockchain pilots and today stated it plans to launch a service to professional clients by 2022. That will include crypto asset structuring, issuing, exchange and custody services.
The organization was one of the first major banks to use a public blockchain in 2019 when it issued a €100 million covered bond on Ethereum. This was followed last year by a €40 million covered bond settled with central bank digital currency (CBDC) issued by the Banque de France.
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