Societe Generale Bank released bonds $ 112 million at the Ethereum blockchain

The French financial conglomerate Societe Generale Group has released bonds worth $ 112 million in the form of Security-tokenes on the public blockchain ETHEREUM.

Tocken financing commitments are provided with specific assets and remains on the balance sheet of the Issuer. Moody’s Investors Service rating agency reported that Conglomerate has released virtual assets for itself, since external investors were absent.

Bonds with a five-year repayment period provide for the possibility of extension for twelve months. The principle of «equal approach» guarantees that in the event of a bankruptcy of the company, their holders will receive fractional sums on a par with other creditors.

Societe Generale is confident that the new standard will help reduce costs, will increase transparency and reduce the likelihood of emission errors that occur due to complexity and a large number of participants.

The subsidiary of Societe Generale SFH was answered for the tokenization of securities. The consulting firm PWC advised the project on the technological part, and with lawyers from Gide Loyrette Nouel discussed legal aspects.

Another financial giant Jpmorgan reported