The unsecured bond has a value of 10 million euros and a maturity of three years, with all the proceeds going for eligible green activities investments.
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, went public on Nov.
The bond has a value of 10 million euros (around $11 million) and a maturity of three years.
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The digital infrastructure of the bond grants 24/7 open access to the data on its carbon footprint through the bond’s smart contract.
“This enables issuers and investors to measure the carbon emissions of their securities on the financial infrastructure.”
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.
“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 has been active in the crypto sector, issuing euro bonds on the Ethereum blockchain and security tokens on the Tezos blockchain, as well as proposing Dai (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.