Societe Generale: Lists First Security Tokens Utilizing Blockchain on Luxembourg Stock Exchange

February 14, 2022 Blockchain, Crypto, Digital Assets, Tokens, CBDCs, Metaverse, NFTs, FinTech and Alternative Finance, Fintech International, Fundraising, Investing, Trading, Innovation and Resources No comments

Crowdfund Insider | JD Alois | Jan 31, 2022

Societe Generale, the 3rd largest global bank based in France, has listed security tokens on the Luxembourg Stock Exchange (LuxSE). These are the first securities admitted to the exchange that utilizes blockchain or a public Distributed Ledger Technology (DLT).

Since April 2019, Societe Generale has structured several native security tokens issuances deployed on DLT for their clients. In 2021, Societe Generale participated in the European Investment Bank’s (EIB) €100 million digital bond.

LuxSE’s Securities Official List (LuxSE SOL) now includes a series of three digital bonds and structured products emanating from Societe Generale’s digital assets arm, Societe Generale – FORGE (SG – FORGE). The digital securities are issued natively on the Ethereum and Tezos public blockchains respectively.

See: A Brief History of Security Tokens And Why This Time It’s for Real

These securities are characterized as financial instruments and debt securities under French law and are compliant with the CAST open-source interoperability and securitization framework.

Societe Generale notes that the digital securities are listed on LuxSE in advance of the “imminent adoption” of the EU Pilot Regime which will permit the processing of security tokens through market infrastructures in compatibility with applicable EU regulations within a transitional period. The adoption is anticipated at some point in 2022.

Societe Generale states that native security tokens have the potential to significantly improve efficiency and transparency in financial markets and make transactions safer and more resilient.

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