Societe Generale-Owned Bank Launches Blockchain Exchange Note
Kleinwort Hambros, a Societe Generale-owned bank and wealth manager, has launched a Luxembourg-listed blockchain exchange-traded note.
A tech-focused subsidiary of Societe Generale said it will trial up to five different blockchains to understand their usefulness in capital markets.
Societe Generale has no plans to resell its $110 million ethereum bond, but future blockchain trials will involve external investors, an exec said.
The Ethereum developer will help the digital assets arm of Societe Generale carry out research on a central bank digital currency.
Swiss financial giant UBS has started full-fledged transactions on we.trade, a blockchain-based trade finance platform.
Last week, Frenching bank Societe Generale revealed that it has issued a security token-like bond on ethereum. But rather than using a private iteration, SocGen used the public blockchain.