Societe Generale issues the first digital green bond on Ethereum.
Societe Generale's first digital green bond is a senior preferred unsecured bond on Ethereum.
The bond was issued as a security token and registered on November 30, with an opening price of 10 million euros.
The maturity is three years and the net proceeds go to eligible green projects and operations.
Societe Generale, the third largest bank in France, recently issued the first digital green bond on the public blockchain, details in a news release.
The French financial services giant announced that its selective unsecured bond offering was on the Ethereum blockchain and had an initial transaction of 10 million euros ($10.79 million).
Issued as a security token and registered on November 30 by Société Générale, the bond has a three-year maturity and enables transparency and traceability of its carbon footprint through smart contracts.
Societe Generale has registered its first digital green bond as a security token directly on the #Ethereum public blockchain by Societe Generale-FORGE.
— Societe Generale (@SocieteGenerale) December 4, 2023
Net income for financing green projects
According to the bank, the net proceeds from the bond will finance or renovate eligible “green” projects or activities.
Investors also have a new on-chain option, with EUR CoinVertible (EURCV), a euro-peg stablecoin minter launched in April. It provides investors with a complementary solution to traditional cash flow.
Per Société Générale, the benefits of Euro CoinVertible's on-chain solution are clear, with countries experimenting with central bank digital currencies (CBDCs), the bank announced.
As major financial institutions and providers increasingly embrace blockchain technology, Paris-based Societe Generale has become one of the biggest to tap into the innovation. It has issued Eurobonds, including in cooperation with the European Investment Bank (EIB), on the Ethereum blockchain.
The company has issued security signals on Tezos.
