Société Générale issues first green bond on Ethereum
French third-largest bank, Societe Generale, announced the issuance of its first digital green bond on the Ethereum public blockchain as a security token. The bond, registered by Societe Generale's subsidiary Forge, was listed on November 30 and is worth €10 million (approximately $11 million) with a three-year term.
The bond follows "green" standards, with the net proceeds being used to finance products and companies that meet sustainable green activity (ESG) standards. The bond's digital infrastructure provides round-the-clock access through smart contracts and can be settled on-chain through Forge's Euro-pegged stablecoin, EUR CoinVertible, set to launch in April 2023.
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