In a recent announcement, Societe Generale, one of France’s largest banks, revealed that it has issued its first digital green bonds on the Ethereum blockchain. The bank’s digital-asset arm, SG-FORGE, facilitated this issuance, which is valued at approximately €10 million ($10.8 million). Notably, financial firms AXA Investment Managers and Generali Investments have been identified as early adopters of these digital green bonds. Societe Generale highlighted two key innovations associated with these bonds. Firstly, the functionality to measure the carbon emissions of issuers and investors’ securities by publishing carbon footprint reports on security tokens. Secondly, the functionality for investors to settle securities on-chain, complementing traditional settlement solutions. Additionally, the bank expressed its intention to explore Central Bank Digital Currencies (CBDCs) in the future.This move aligns with Societe Generale’s commitment to leveraging its financial structuring expertise and SG-FORGE’s technological capabilities to contribute to the development of an innovative sustainable bond market. It is worth noting that the bank obtained a license to trade and custody cryptocurrency and digital assets last year, making it the first French bank to do so. This recent issuance further demonstrates the bank’s growing interest in blockchain technology and its involvement in the crypto sector.Furthermore, Societe Generale’s actions are in line with France’s efforts to establish itself as Europe’s primary crypto hub. The country has implemented a training program specifically for crypto and finance influencers, aiming to educate the public, ensure compliance with advertising laws, and protect investors from risky financial products.Overall, Societe Generale’s issuance of digital green bonds on Ethereum showcases its commitment to sustainability and innovation in the financial sector. This move reflects the broader trend of traditional finance embracing blockchain technology and highlights France’s ambition to become a leading player in the crypto industry.
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 | None |
| Companies | AXA Investment Managers, Societe Generale, Generali Investments |
| Currencies | Ethereum |
| Securities | None |
