Societe Generale has completed its first onchain digital bond issuance in the United States. The issuance used tokenization technology from Broadridge Financial Solutions Inc and took place on the Canton public chain. The bonds were issued as security tokens registered by Société Générale FORGE, the bank’s digital asset subsidiary. DRW, a trading firm known for its work in market innovation, purchased the bonds. These bonds are short term floating rate debt instruments linked to SOFR.
This issuance is one of the early digital security offerings for institutional investors in the United States. It marks another step in Societe Generale’s expansion in the digital asset space. Since 2019, SG FORGE has completed several tokenized issuances in Europe. It provides full lifecycle support from issuance to management for financial products recorded on blockchain.
The digital bonds issued in the United States were built on the Canton network. The network was created by Digital Asset to support instant onchain transfers while allowing issuers and registrars to follow existing capital market rules and practices.These bonds are also the first securities to use Broadridge’s tokenization system. The system allows companies to issue financial instruments in digital form. It improves transparency and traceability, and it makes transactions and settlement faster. Broadridge and SG FORGE run nodes on the Canton network’s Global Synchronizer infrastructure. They use IntellectEU’s Catalyst Blockchain Manager for node operations. These tools enabled Societe Generale to complete the first tokenized bond issuance in the United States. They also open the way for future issuances and new applications.
BNY acts as the paying agent for the bonds. It is one of the major third party intermediaries in global debt capital markets. Mayer Brown served as the legal advisor to Societe Generale for this issuance.
This successful transaction in the US market is an important step toward the future of tokenized asset issuance, including structured products. It shows how Societe Generale can combine its financial design expertise with the technical capabilities of SG FORGE to deliver value added services for clients.
SG FORGE CEO Jean Marc Stenger said: “This successful issuance highlights our leadership in the tokenization of securities. It also shows our ability to bring new financial instruments onchain in a complex legal and regulatory environment.”
Cumberland Global Head at DRW, Chris Zuehlke, said: “Issuing these landmark digital bonds is an important step in building the future of finance. As long time supporters of innovation in financial markets, we believe tokenization can improve efficiency and transparency and expand access across the ecosystem. This also reflects the growing pace of institutional adoption of digital native assets.”
Broadridge Head of Digital Innovation, Horacio Barakat, said: “By enabling onchain issuance of corporate debt on a public chain, we are opening new distribution channels for issuers and partners. This development extends our tokenization capabilities from US Treasuries to a wider range of assets. It increases liquidity and improves collateral value for these assets in margin and secured financing. Broadridge is moving tokenization into its next phase by building core infrastructure for onchain capital markets. It expands liquidity and increases investor access.”
Digital Asset CEO and Co founder Yuval Rooz said: “We congratulate Societe Generale for advancing the digital transformation of capital markets. The issuance shows how regulated institutions can issue and manage real financial instruments onchain with the same discipline and confidence seen in traditional markets. By combining mature market structures with the transparency, efficiency, and interoperability of digital infrastructure, this issuance demonstrates how tokenization can improve market operations and create new opportunities for institutions and investors.”
BNY Head of Trust, Cécile Nagel, said: “The market needs execution, not only vision. Our capabilities allow issuers like Societe Generale to turn innovation into reality. Digital bonds improve efficiency. They open new markets for issuers and increase liquidity. With BNY’s trusted services and operational reliability, we are helping reshape finance. We provide smooth access to digital markets with the support of traditional market infrastructure.”
ABOUT SOCIETE GENERALE
Societe Generale is one of the leading banks in Europe. It has about 119000 employees and serves more than 26 million clients in 62 countries. For 160 years, the bank has supported economic development and offered financial solutions for companies, institutions, and individuals. Strong client relationships, advanced expertise, innovation, ESG capabilities, and leading business lines form the core of its identity. The goal is to create sustainable value for all stakeholders.
The group operates three main business areas and provides ESG related services for all clients:
French retail banking, private banking, and insurance: including the retail bank SG, the insurance business, the private banking arm, and the digital bank Boursorama.
Global banking and investor solutions: a top tier wholesale bank offering customized financial solutions, with leadership in equity derivatives, structured finance, and ESG.
Mobility, international retail banking, and financial services: covering full service banks in Europe and Africa, Ayvens in the sustainable mobility sector, and specialized financing activities.
Societe Generale aims to build a sustainable and better future with its clients. It seeks to be a leading partner in environmental transition. The group is included in major ESG indices such as DJSI Europe, FTSE4Good Global and Europe, Bloomberg Gender Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo Europe and Eurozone, STOXX Global ESG Leaders, and MSCI Low Carbon Leaders.
ABOUT SOCIETE GENERALE FORGE
Societe Generale FORGE is the bank’s digital asset subsidiary. It holds an investment firm license and is authorized under MiFID II and MiCA in the European Economic Area. It is supervised by the ACPR and the AMF in France. It is also licensed as an electronic money institution. SG FORGE issued the EUR CoinVertible and USD CoinVertible stablecoins under MiCA rules.
SG FORGE has built an open, secure, institution grade digital asset platform with bank level security and compliance. Its digital solutions and assets follow the CAST open standard for interoperability and secure market operations.
