specialized credit institution Societe Generale SFH issued a 100 million euro ($112 million) bond as a security on the () . The company the development on its website on April 23.
Societe Generale SFH — which is a subsidiary of one of Europe’s largest financial services groups, Societe Generale Group — has rolled out its first pilot project developed in collaboration with Societe Generale FORGE. The latter is an internal startup launched through the Group’s intrapreneurial program, the Internal Startup Call.
The transaction’s goal was to investigate a more efficient way for bond issuance, which would potentially facilitate better transparency, and faster transferability and settlement. The company says in the announcement that the product “proposes a new standard for issuances and secondary market bond and reduces cost and the number of intermediaries.”
Last September, Societe Generale one of the major financial organizations that launched a joint venture dubbed komgo SA to oversee a new -based platform for financing the of commodities.
The venture aims to digitize trade and commodities finance processes through a -based open platform, and was developed in partnership with the -focused infrastructure and solutions group .
Earlier in April, Private bank Kleinwort Hambros, which is owned by Societe Generale, an exchange-traded note made up of -related companies. The stocks reportedly included 20 companies, which are expected to profit from and distributed technology .
As reported today, head of digital market assets at Credit Suisse, Emmanuel Aidoo, that the desire among financiers to maintain the status quo is holding back the of technology. Aidoo argued that banks’ unwillingness to adopt lies in the culture within banks, and has nothing to do with the technology’s immaturity or a lack of potential use cases within financial organizations.
Published at Tue, 23 Apr 2019 22:09:15 +0000
