Categories: Ethereum

French multinational investment bank issues security tokens based on Ethereum blockchain

Click here to view original web page at

Societe Generale SFH, a subsidiary of Société Générale [SocGen], a French multinational investment bank and financial services company, issued security tokens worth €100 million, based on the Ethereum blockchain, its official website reported. According to a statement released on April 23, these security tokens were issued by the bank on April 18.

Notably, this is not the first time the multinational bank has ventured into the blockchain space. The Societe Generale Group has been a part of the space for a few years now, with their involvement in projects such as and komgo SA.

The official announcement read, {Translated from French}

“[…] issued EUR 100 million of covered bonds in the form of “security tokens” (home financing bonds or “OFH”) directly registered on the Ethereum blockchain. Tokens OFH were rated Aaa / AAA by Moody’s and Fitch and were fully subscribed by Société Générale.”

The blog further stated this issuance was part of Société Générale’s “pilot project” and was one of the firms that were part of its Internal Startup Call firms. The startup in question was noted to be Société Générale FORGE, which focuses on providing various blockchain-based solutions.

The blog read,

“This transaction makes it possible to explore a more efficient bond issue circuit. The benefits are numerous: […] increased transparency, faster securities transfer and settlement. It also makes it possible to offer a new standard for issue and trading in the secondary market and to reduce the costs and the number of intermediaries.”

Further, this entire issuance was carried out by the bank with the participation of its financial, legal, compliance, and operations team. Société Générale SFH’s legal procedures would be managed by Gide Loyrette Nouel, and one of the big fours, PwC, will also be playing a crucial role in the firm.

“Innovation is at the heart of Société Générale’s DNA. It is a priority axis of its “Transform to Grow” strategic plan. The Group’s digital transformation is accelerating by using new technologies to innovate and better serve its customers.”


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Terrorists are turning to Bitcoin for funding, and they’re learning fast

Representational image of Bitcoin. (File: Bloomberg) By Nathaniel Popper Hamas, the militant Palestinian group, has been designated a terrorist organization… Read More

4 hours ago

Latest Faketoshi says he conveniently ‘lost the hard drive’ containing billions in Bitcoin

Just yesterday we told you how there was a new Faketoshi in town, staking a questionable claim to the Bitcoin… Read More

4 hours ago

Study Suggests Scarcity Could Drive Bitcoin Prices to $60,000 by May 2020

Share Tweet Send Share Bitcoin price predictions have been coming thick and fast in recent months as the world’s top… Read More

4 hours ago

“Bitcoin will never hit 50k” says crypto skeptic Peter Schiff

For a man that wants nothing to do with Bitcoin , economist and Euro Pacific Capital CEO Peter Schiff never… Read More

4 hours ago

Casa Releases Node Monitor Service to Improve Bitcoin Network Health

Casa, a crypto firm that provides a private key management service and Bitcoin node machine, has unveiled a node monitor… Read More

4 hours ago

ETC/ETH Technical Analysis: Ethereum Classic breaks higher

Ethereum Classic vs Ethereum: Classic is making a comeback today An important price level has been broken 0.037673 looks to… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More