Categories: Ethereum

Societe Generale Subsidiary Issues 100 Million Euro Bond on Ethereum Blockchain

Click here to view original web page at

French specialized credit institution Societe Generale SFH issued a 100 million euro ($112 million) bond as a security token on the Ethereum (ETH) blockchain. The company announced the development on its website on April 23.

Societe Generale SFH — which is a subsidiary of one of Europe's largest financial services groups, Societe Generale Group — has rolled out its first pilot project developed in collaboration with Societe Generale FORGE. The latter is an internal startup launched through the Group’s intrapreneurial program, the Internal Startup Call.

The transaction’s goal was to investigate a more efficient way for bond issuance, which would potentially facilitate better transparency, and faster transferability and settlement. The company says in the announcement that the product “proposes a new standard for issuances and secondary market bond trading and reduces cost and the number of intermediaries.”

Last September, Societe Generale became one of the major financial organizations that launched a joint venture dubbed komgo SA to oversee a new blockchain-based platform for financing the trading of commodities.

The venture aims to digitize trade and commodities finance processes through a blockchain-based open platform, and was developed in partnership with the Ethereum-focused blockchain infrastructure and solutions group ConsenSys.

Earlier in April, Private bank Kleinwort Hambros, which is owned by Societe Generale, launched an exchange-traded note made up of blockchain-related companies. The stocks reportedly included 20 companies, which are expected to profit from blockchain and distributed ledger technology adoption.

As reported today, head of digital market assets at Credit Suisse, Emmanuel Aidoo, said that the desire among financiers to maintain the status quo is holding back the adoption of blockchain technology. Aidoo argued that banks’ unwillingness to adopt blockchain lies in the culture within banks, and has nothing to do with the technology’s immaturity or a lack of potential use cases within financial organizations.


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