Societe Generale, one of France’s largest banks, has made history by issuing the first-ever digital green bond on the Ethereum blockchain. The bond, valued at 10 million euros, was registered as a Security Token and offers transparency and traceability of its carbon footprint through a smart contract. The net proceeds from the bond will be used to finance eligible green projects. This move by Societe Generale highlights the increasing adoption of blockchain technology by major financial institutions. The bank has previously issued euro bonds on the Ethereum blockchain and has also explored security tokens on Tezos. With the introduction of the EUR CoinVertible stablecoin, investors now have the option to settle securities on-chain, providing an alternative to traditional cash settlement. This development comes at a time when countries are experimenting with Central Bank Digital Currencies (CBDCs), making the on-chain solution of the EUR CoinVertible particularly relevant. Societe Generale’s foray into blockchain technology demonstrates its commitment to innovation and sustainability in the financial sector.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇸🇨 🇫🇷 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Gracy Chen |
| Companies | Forge, European Investment Bank (EIB), Tezos, Societe Generale, Bitget |
| Currencies | Ethereum, Euro, Tether |
| Securities | None |
