Overview
- Societe Generale, the third-largest bank in France, has issued its first digital green bond as a Security Token on the Ethereum public blockchain.
- The bond, valued at 10 million euros, has a maturity of three years and its proceeds will be used to finance or refinance products and companies classified under the Eligible Green Activities (ESG) category.
- The bond's digital infrastructure grants 24/7 open access to the data on its carbon footprint through the bond’s smart contract.
- AXA Investment Managers and Generali Investments purchased the tokenized bonds using the euro-pegged stablecoin EUR CoinVertible issued by Forge, a subsidiary of Societe Generale.
- Societe Generale's move follows the launch last week by the European Investment Bank (EIB) of its second euro-denominated digital bond on a private blockchain, in partnership with Goldman Sachs Bank Europe, Santander and SocGen.