Societe Generale issues €10m in digital green bond on Ethereum
French multinational financial conglomerate Societe Generale has issued its first digital green bond on a blockchain network. According to a Reuters report, the Paris-headquartered banking group has nearly $11 million worth of senior preferred unsecured bonds with maturity of three years on the Ethereum (ETH) blockchain. The bank added that AXA Investment Managers and Generali Investments “fully subscribed the related security tokens through private placement.” AXA Investment particularly acquired and spent €5 million worth of Societe Generale’s euro-denominated ERC-20 stablecoin called EUR CoinVertible (EURCV). The bank plans to spend the proceeds on projects aimed at environmental benefits, including renewable energy and low-carbon transportation. You might also like: Societe Generale’s crypto division secures license in France Societe Generale announced its EURCV stablecoin in April 2023, hoping to bridge the gap between traditional capital markets an...