SocGen issues 10-mln-euro digital green bond on a public blockchain

Societe Generale, France’s third-biggest listed bank, said on Monday it issued its first so-called digital green bond on a public blockchain, as the lender seeks to build expertise in crypto services. The inaugural transaction amounts to 10 million euros ($10.87 million) worth of senior preferred unsecured bonds with a maturity of 3 years, the bank said.

AXA Investment Managers, the investment arm of France’s biggest insurance company AXA and Generali Investments, its equivalent for Italian insurer Generali fully subscribed the related security tokens, through private placement, SocGen said. Blockchain is a digital ledger that records ownership of tokens.