Societe Generale Issues a Security Token on the Tezos Blockchain

Societe Generale Issues a Security Token on the Tezos Blockchain

The third-largest bank in France, as well as one of the leading banks in the whole world, Societe Generale, has issued its first structured product as a security token. The bank has chosen Tezos’ blockchain as the underlying network.

  • Following the first covered bond security token issuance for 100 million euros on Ethereum’s blockchain back in April 2019, Societe Generale issued its first structured product as a security token registered on the Tezos public blockchain.
  • According to a press release shared with CryptoPotato, the securities have been fully subscribed by Societe Generale Assurances.
  • Per the release, the “transaction completes a new step in the development of Societe Generale  Forge,” which is a regulated subsidiary of Societe Generale Group.
  • The aims of the latter are to offer crypto asset structuring, issuing, exchange, and custody services to its professional clients by 2022.
  • The issuance has been performed in accordance with the best market practices, and it showcases the regulatory, operational, and legal feasibility of issuing complex financial instruments on public blockchains.

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 ass reduced cost and number of intermediaries. – Further reads the release.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Twitter Auto Publish Powered By : XYZScripts.com

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.