Société Générale, a French multinational investment bank, has issued its first security token on the Tezos blockchain. According to a press release, the securities were fully subscribed by the bank's assurances.
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The bank says the securities demonstrate a new step in the development of Société Générale – Forge, a regulated subsidiary of Société Générale Group, aiming at offering by 2022 crypto assets structuring. Société noted the blockchain enabled increased efficiency and fluidity of financial transactions.
In April 2019, the French credit institution issued a 100 million euros bond as a security token on the Ethereum blockchain.
Société Générale SFH, a subsidiary of Société Générale Group, launched back then its first pilot project developed in partnership with Société Générale – Forge. However, according to Moody’s rating agency, Société Générale was the "only investor," which meant that the new financial instrument was not offered to third parties.
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