Société Générale’s SG-FORGE Issues First Tokenized Bond in U.S.

Société Générale's SG-FORGE successfully launched its first blockchain-based digital bond issuance in the United States, marking a significant step in expanding its presence in on-chain capital markets. The short-term bond is linked to the secured overnight financing rate (SOFR) and has been purchased by trading firm DRW. Utilizing Broadridge Financial Solutions' tokenization technology, the bond operates on the Canton Network, a privacy-focused blockchain infrastructure that enables instant settlement while maintaining traditional finance's legal framework. This transaction not only represents a new milestone for SG-FORGE but also paves the way for the potential on-chain issuance of more complex financial products, including structured notes. Chris Zuehlke, global head of DRW’s crypto division, noted the importance of this issuance as a step towards a more efficient and transparent financial ecosystem. BNY Mellon is designated as the paying agent, while IntellectEU’s Catalyst Blockchain Manager facilitated the blockchain infrastructure.

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