Today AXA Investment Managers (AXA IM) said it purchased a €5 million tokenized green bond issued by Societe Generale using the CoinVertible for settlement. That’s a stablecoin issued by Societe Generale FORGE. The transaction on the public Ethereum blockchain is part of a new joint experiment. In July AXA IM was a judge in SocGen Forge’s tokenization hackathon.
CoinVertible isn’t designed as an average stablecoin, but instead for institutional usage. As in this case, there’s a need for trusted on-chain settlement assets.
“The aim of this initiative, carried out in collaboration with Societe Generale – FORGE, was to enable us to experiment the use of a stablecoin as a settlement asset to purchase a digital bond,” said Laurence Arnold, Head of Innovation and Strategic Initiatives. “Our ultimate objective is to optimise our existing processes by adopting the most advanced technologies, so we can offer the best possible services to our clients.”
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