Société Générale's SG-FORGE Issues First Tokenized Bond in U.S.
Société Générale's crypto arm SG-FORGE has completed its first digital bond issuance in the U.S., marking a significant expansion of its on-chain capital markets footprint. The short-term bond, linked to the SOFR rate, was purchased by the trading firm DRW. This issuance is the first live securities issuance utilizing Broadridge Financial Solutions' tokenization technology.
The bond operates on the Canton Network, a privacy-enabled blockchain infrastructure developed by Digital Asset that allows for instant settlement while preserving the traditional finance legal framework. BNY Mellon will serve as the paying agent for the bond issuance, with IntellectEU's Catalyst Blockchain Manager supporting the blockchain infrastructure operations. Legal advisory was provided by Mayer Brown.
Since 2019, SG-FORGE has been active in digital bond markets in Europe, and this U.S. issuance represents a step towards more complex digital financial products, such as structured notes. Beyond digital bonds, SG-FORGE has advanced other crypto initiatives, including integrating euro- and dollar-backed stablecoins into Deutsche Börse's core market infrastructure and listing regulated stablecoins on Ethereum-based protocols Morpho and Uniswap for use as institutional collateral.
