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

Société Générale's crypto arm, SG-FORGE, has successfully completed its initial blockchain-based digital bond issuance in the U.S. This bond, associated with the secured overnight financing rate (SOFR), was acquired by trading firm DRW. Utilizing Broadridge Financial Solutions' tokenization technology, the bond operates on the Canton Network, which provides a privacy-enabled blockchain infrastructure. This transaction extends SG-FORGE's presence in the on-chain capital markets and signals a potential future for more sophisticated product offerings like structured notes. Chris Zuehlke, global head of DRW’s crypto division, highlighted that these digital bonds could drive innovation, efficiency, and transparency in financial markets. The transaction involved BNY Mellon as the paying agent and IntellectEU's Catalyst Blockchain Manager for managing the blockchain infrastructure. SG-FORGE continues to explore developments in crypto, including integrating stablecoins into the market and participating in decentralized finance on Ethereum-based platforms.

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