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

Société Générale's crypto arm, SG-FORGE, has made significant strides in the blockchain space with the issuance of its first digital bond in the U.S. This short-term bond is linked to the secured overnight financing rate (SOFR) and has been purchased by trading firm DRW. The bond utilizes Broadridge Financial Solutions' tokenization technology and operates on the Canton Network, which provides instant settlement while maintaining the regulatory frameworks of traditional finance. This milestone expands SG-FORGE's influence in on-chain capital markets, paving the way for potential future product offerings like structured notes. Chris Zuehlke, global head of DRW's crypto division, emphasized that the issuance signifies a progression toward a more efficient, transparent, and accessible financial ecosystem. Additional support came from BNY Mellon, acting as a paying agent in this process, and IntellectEU, which provided the necessary blockchain infrastructure.

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