Societe Generale Breaks Ground with First US Blockchain-Based Bond

Societe Generale has made its US debut in blockchain-based finance with the issuance of its first digital bond in the world’s largest economy in a move that could reshape how American capital markets handle debt.

The short-term floating rate bond, linked to the Secured Overnight Financing Rate (SOFR), was purchased by trading firm DRW and issued via Societe Generale’s digital asset subsidiary, SG-FORGE.

This marks the first time the French banking giant has brought its tokenization expertise to the US market, following a number of pilots conducting tokenized bond issuances in Europe.

The bond was issued as a security token on the Canton Network, a blockchain infrastructure developed by Digital Asset. Broadridge Financial Solutions, headquartered in New York, provided the tokenization platform, while IntellectEU’s Catalyst Blockchain Manager enabled node operations across the network’s decentralized infrastructure.

This issuance is the first to use Broadridge’s new tokenization platform, which aims to improve transparency, settlement speed, and asset traceability, and expands the company’s tokenization efforts beyond US Treasuries into broader asset classes.  

BNY Mellon will serve as the paying agent, and Mayer Brown acted as legal counsel, further anchoring the transaction in US financial infrastructure.

“This issuance showcases how tokenization can meaningfully enhance market operations and unlock new opportunities for institutions and investors,”  said Yuval Rooz, CEO and Co-Founder of Digital Asset.

DRW’s Chris Zuehlke added that tokenization could unlock “efficiency, transparency, and broader access”  across financial markets.