French banking power house Societe Generale (aka SocGen), has for the first time issued 100 million EUR in covered bonds, utilising the Ethereum (ETH) blockchain. SocGen announced that they issued the bonds as OFH (obligations de financement de l’habitat) security tokens to represent the issuance of 100 million EUR.
This is an interesting development for the space as it proves and opens up the doors to anyone who would like to participate in a bond, or any other financial public offering. This could be utilising Ethereum (ETH) or any other public blockchain. In the announcement this development is also a hint of what is to come: Innovation is at the core of Societe Generale’s DNA and a priority of its Transform to Grow strategic plan. The Group’s digital transformation speeds up using new technologies to innovate and better serve its clients.