The third-largest bank in France, Societe Generale, reported issuing its first digital green bond as a Security Token on the Ethereum public blockchain. The bond, registered by Forge, a subsidiary of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, went public on Nov. 30.\u00a0<\/p>\n
The bond has a value of 10 million euros (around $11 million) and a maturity of three years. Its \u201cgreen\u201d status means that the net proceeds of this bond will be used to finance or refinance products and companies classified under the Eligible Green Activities (ESG) category. <\/p>\n
Related: <\/u><\/em><\/strong>Tether\u2019s \u2018new era for capital raises\u2019 Bitfinex bond stutters<\/em><\/strong><\/p>\n The digital infrastructure of the bond grants 24\/7 open access to the data on its carbon footprint through the bond\u2019s smart contract. According to the bank:<\/p>\n Another innovation of the bond is a technical option for investors to settle securities on-chain through the EUR CoinVertible, a euro-pegged stablecoin issued by Forge in April 2023. Societe Generale clearly keeps in mind the upcoming wave of the central bank digital currencies (CBDCs) with this option:<\/p>\n Societe Generale has been quite active in the crypto sector, issuing euro bonds on the Ethereum blockchain and security tokens on the Tezos blockchain and proposing Dai stablecoin loans in exchange for bond tokens. In July 2023, Forge became the first company to obtain the highest access license for crypto services in France.\u00a0<\/p>\n