Societe Generale SFH is a French specialized credit institution that has issued a 100m euro bond ($112 million) over Ethereum (ETH).
Societe Generale SFH is a subsidiary of Societe Generale Group. It introduces its first pilot project, which was developed in collaboration with Societe Generale FORGE. Societe Generale FORGE, an internal startup, was launched under the Group’s intrapreneurial program called the Internal Startup Call.
This transaction was intended to investigate a faster way to issue bonds. It will result in better transparency and quicker settlements. In the announcement, the company stated that the product “proposes a new standard in issuances and secondary markets bond trading and reduces the number of intermediaries and costs.”
Societe Generale created komgo SA, a joint venture that was launched last September. It became one of the most prominent financial institutions to do so. This venture will manage a new platform that uses blockchain to finance the trading of commodities. It aims to digitize trade and commodity finance through a blockchain-based open platform. This network was developed in partnership to the Ethereum-focused blockchain infrastructure group ConsenSys.
Kleinwort Hambros, a private bank owned by Societe Generale, launched an exchange-traded note that was made up of blockchain-related businesses. According to reports, the stock includes 20 companies that stand to benefit from blockchain adoption and distributed ledger technology adoption.
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