The securities were fully subscribed by Societe Generale Assurances. This operation follows in the footsteps of a first covered bond Security Token issuance worth EUR 100 million on the Ethereum blockchain, settled in euros in April 2019, and of a second covered bond Security Token issuance worth EUR 40 million this time settled in Central Bank Digital Currency (CBDC) issued by Banque de France, in May 2020. 

This transaction completes a new step in the development of Societe Generale – Forge, a regulated subsidiary of Societe Generale Group, aiming at offering by 2022 crypto assets structuring, issuing, exchange, and custody services to the Group’s professional clients. This new experimentation, performed in accordance with best market practices, demonstrates the legal, regulatory, and operational feasibility of issuing more complex financial instruments (structured products) on public blockchain. It leverages on this disruptive technology which enables increased efficiency and fluidity of financial transactions: unprecedented capacity of product structuration, shortened time-to-market, automated corporate actions, increased transparency and speed in transactions, and settlements, as well as reduced cost and number of intermediaries. 

Societe Generale – Forge enables Security Tokens to be directly integrated to conventional banking systems interfaced with SWIFT format.