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

Société Générale's crypto arm SG-FORGE has completed its first digital bond issuance in the U.S. utilizing blockchain technology. The bond, which is linked to the secured overnight financing rate (SOFR), was purchased by trading firm DRW. It employs tokenization technology from Broadridge Financial Solutions and operates on the Canton Network, a blockchain infrastructure designed for privacy. This issuance marks a significant expansion of SG-FORGE’s operations in on-chain capital markets and opens the possibility for issuing more complex financial products in the future. Chris Zuehlke, head of DRW's crypto sector, expressed that this step demonstrates the potential of tokenization to enhance efficiency and transparency in financial markets. The transaction is viewed as an important milestone for digital bonds, with additional support from BNY Mellon as the paying agent and IntellectEU assisting with the blockchain infrastructure.

Source 🔗