Societe Generale issues its first green bond on Ethereum.

Societe Generale, the third largest bank in France, has reported the issuance of its first digital green bond as a security token on the Ethereum public blockchain. The bond, registered by Forge, a subsidiary of Societe Generale, was announced on November 30.

The bond has 10 million euros (about $11 million) and a maturity of three years. The “green” rating means that the net proceeds of this bond will be used to support or renew products and companies in the category of eligible green activities (ESG).

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The bond's digital infrastructure provides 24/7 open access to information on its carbon footprint through the bond's smart contract. According to the bank:

This allows issuers and investors to measure the carbon emissions of their securities against the financial infrastructure.

Another innovation of the bond is a technical option that allows investors to chain securities through EuroCoinVertible, a Euro-page stablecoin launched by Forge in April 2023. CBDCs) with this option:

“While Central Bank Digital Currencies (CBCC) solutions are being tested, this settlement method demonstrates the great potential of SG-FORGE in providing large-scale on-chain services.”

Société Générale has been very active in the crypto sector, issuing Eurobonds on the Ethereum blockchain and security tokens on the Tezos blockchain, and proposing die stable coin loans in exchange for bond tokens. In the year In July 2023, Forge became the first company in France to obtain a top-level access license for crypto services.

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