Summary
- SG-Forge said it issued a blockchain-based digital bond in the U.S. market for the first time.
- It said the bond was issued using Broadridge Financial Solutions' tokenization technology and the Canton Network.
- It said SG-Forge's entry into the U.S. is seen as a signal for future expansion of issuing blockchain-based financial products to global institutions.
Société Générale (Societe Generale)'s virtual asset (cryptocurrency) subsidiary SG-Forge issued a blockchain-based digital bond in the U.S. market for the first time.
According to crypto-focused media CoinDesk on the 18th (local time), the bond was issued using Broadridge Financial Solutions' tokenization technology and is based on the privacy-focused blockchain infrastructure Canton Network (Canton Network).
This issuance is a short-term bond linked to the Secured Overnight Financing Rate (SOFR) and is reported to have been purchased by trading firm DRW.
SG-Forge has been expanding its digital bond and asset tokenization business mainly in Europe, and its entry into the U.S. market is seen as a signal for future expansion in issuing blockchain-based financial products to global institutions.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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