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SOCIETE GENERALE ISSUES THE FIRST STRUCTURED PRODUCT ON PUBLIC BLOCKCHAIN

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On April 15th 2021, Societe Generale issued the first structured product* as a Security Token directly registered on the Tezos public blockchain. The securities were fully subscribed by Societe Generale Assurances.

This operation follows in the footsteps of two previous blockchain-based bond issuances: 

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 innovative operating model enables Security Tokens to be directly integrated to conventional banking systems interfaced with SWIFT format.

Innovation is key to Societe Generale Group’s digital transformation. The Group has been involved for several years in numerous initiatives based on blockchain and distributed ledger technologies, using the most innovative technologies and creating disruptive business models, with the aim of better serving its clients.

*Autocall, Euro Medium Term Notes (EMTN), EUR 5m

Press contact:
Astrid Fould-Bacquart – +33 1 56 37 67 95 –  astrid.fould-bacquart@socgen.com