Societe Generale Assurances fully endorsed the securities
Societe Generale has launched its initial structured product a Security Token. It is precisely certified on the Tezos communal blockchain.
This comes after the issuance of Ethereum blockchain worth €100 million bond Security Token in April 2019. A Central Bank Digital Currency (CBDC) worth €40 million was also issued. The Security Token that was covered by a bond was issued in May 20202 by Banque de France.
These new transactions paves way for the advancement of Societe Generale-Forge. Forge is a branch of Societe Generale Group. The goal is to offer structuring, exchange, custody, and issuing of crypto assets to professional customers by 2022.
This exercise follows the recommended market practices. It is also a show of operational, legal, and regulatory feasibility in the issuance of complicated financial tools on the public blockchain. It uses disruptive technology to raise the fluidity and efficiency of financial activities. It also leverages unexpected product structures, corporate moves automation, fast settlement and transactions, reduction of costs as well as short marketing periods.
Using the innovation from Societe Generale-Forge, it is now possible to integrate Security Tokens into other banking systems. This takes advantage of the SWIFT format.
We’ve reported that UK digital bank secured multimillion investment from Goldman Sachs.