France's third-largest bank Societe Generale announced the issuing of its first digital green bond as an Ethereum security token. Forge, a Societe Generale subsidiary, issued the bond, valued at 10M euros ($11M). The bond will have a three-year maturity. The net proceeds of the bond will finance or refinance green operations.
The digital infrastructure of the bond provides constant access to data on its carbon footprint via the bond's smart contract, allowing issuers and investors to examine the carbon emissions associated with their instruments.
The bond can also be settled on-chain via the EUR CoinVertible stablecoin, released in April 2023. Societe Generale anticipates the wave of Central Bank Digital Currencies (CBDCs), demonstrating its ability to deliver a comprehensive range of on-chain services.
Societe Generale has entered the crypto market by issuing euro bonds on the Ethereum blockchain, security tokens on the Tezos blockchain, and DAI stablecoin loans in exchange for bond tokens. In July 2023, Forge became the first firm in France to receive the highest access license for crypto services.
