According to Cointelegraph, 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 Societe Generale is expected to have gone public on November 30, 2023.
Sources revealed that the bond has a value of about 10 million euros (around $11 million) and a maturity of three years. Its “green” status is believed to mean that its net proceeds will be used to finance or refinance products and companies classified under the eligible green activities category, added Cointelegraph.
“While Central Bank Digital Currencies (CBDC) solutions are being experimented, this panel of settlement methods demonstrates the large capabilities of SG-FORGE in providing full spectrum of on-chain services,” Societe Generale explained.
Furthermore, it is believed that the bond will also include a technical option for investors to settle securities on-chain through the EUR CoinVertible, a euro-pegged stablecoin issued by Forge in April 2023, Cointelegraph concluded.
(With insights from Cointelegraph)
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