Société Générale Bank Launches Tokenized Shares on the Tezos Blockchain – Bits Media

The French Société générale bank launches TEZOS blockchain-based tokens for integration with banking systems and interaction with institutional clients.

Société générale will present its own tokenized shares with the participation of Forge subsidiary. The launch of tokens-promotions will expand the list of services, provided to institutional investors. This step can bring the full -fledged exit of the bank to the cryptocurrency market to 2022 year.

The investment giant called this a new experiment, conducted in accordance with advanced market trends. The bank came to the conclusion, that such complex financial tools using an open blockchain can function in compliance with the necessary regulatory provisions, as well as legal and technical requirements.

For more than three years, the bank has been conducting research in the field of blockchain and cryptocurrencies. IN 2019 year, the financial giant released bonds in the amount 100 Milln euros in the form of tokens-promotions on the Ethereum blockchain. Besides, in has 2020 Years Société générale and Forge have released tokenized bonds for the amount 40 million, and used them to conduct research of the digital currency of the Bank of France. According to the media, Recently, Société générale, along with other major financial institutions, was chosen by the European Investment Bank to study blockchain potential, To apply it to sell bonds.

Société générale - one of many banks, experimenting with financial technologies and blockchain. Earlier, the Bank of China commercial bank also released bonds on the blockchain in the amount $2.8 billion, And Santander Bank has submitted tokenized bonds to $20 Milln on the Ethereum blockchain. This made it possible to carry out operations with them faster and more efficiently, than traditional ways.