Banking Giant Societe Generale Says It Has Issued First ‘Digital Green Bond’ on Ethereum (ETH) Network
One of the largest banks in France says it has issued the first-ever digital green bond as a security token on the Ethereum (ETH) blockchain.
In a new press release, banking giant Societe Generale says it has issued the eco-friendly bond to increase transparency and traceability surrounding ESG (Environmental, Social, and Governance) data.
“This transaction is the first digital green bond issued by Societe Generale to leverage blockchain’s differentiating functionalities. This digital format enables increased transparency and traceability as well as improved fluidity and speed in transactions and settlements.”
The French bank says that it will further enhance the innovation by ensuring that “information on the carbon footprint linked to the digital bond infrastructure” is publicly available around the clock and thus enables “issuers and investors to measure the carbon emissions of their securities on the financial infrastructure.”
Additionally, Societe Generale intends to enable the on-chain settlement of securities in the future.
Earlier this year, Societe Generale released a stablecoin pegged to the Euro and built on the Ethereum blockchain. At the time, various Ethereum developers criticized the French bank’s stablecoin for being highly inefficient since users have to be whitelisted and all transfers processed individually.
As stated by ETH developer 0xfoobar in a previous report,
“France launched a stablecoin on Ethereum and it’s the worst code I’ve ever seen. Every ERC20 single transfer has to be approved in a separate ETH [transaction] submitted by a centralized registrar. What a laughingstock, is this your CBDC (central bank digital currency)?”
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Author: Mark Emem
