PARIS and LAUSANNE, Switzerland, June 30,
2022 /PRNewswire/ -- Societe Generale - FORGE (SG -
FORGE), a fully integrated subsidiary of Societe Generale,
providing issuers and investors with end-to-end services to issue,
invest and manage digital-native security tokens registered on
public blockchains, has selected METACO, a market-leading provider
of digital asset management technology and infrastructure, to
orchestrate its digital asset custody operations.
Societe Generale is a pioneer in the Digital Ledger Technology
space, with innovation sitting at the heart of the group's
strategic priorities. Since 2019, Societe Generale and its
subsidiary SG - FORGE structured several native security token
issuances deployed on blockchain for their clients such as the
European Investment Bank's (EIB) €100 million digital bond issued
in 2021.
Societe Generale is now offering a range of capital market
products to institutional clients under a native security token
format on Ethereum and Tezos with full banking level safety and
regulatory compliance.
The partnership enables SG - FORGE to continue setting the
agenda on the integration of security tokens into traditional
finance, and leverage METACO's bank-grade digital asset custody and
orchestration platform, Harmonize, to further expand its offering
at scale. These developments are taking place within a larger
context marked by the acceleration of market digitalization using
blockchain technology, notably through the forthcoming
implementation of the EU Pilot Regime and which will permit the
processing of security tokens through market infrastructures in
compatibility with applicable EU regulations.
Security tokens allow for a fully digital issuance process and
lifecycle. Due to their innovative characteristics, they have the
potential to significantly improve efficiency, speed and
transparency in financial markets and make transactions safer and
more resilient – all while offering benefits similar to those of
financial instruments issued in a conventional way.
Jean-Marc Stenger, CEO of
Societe Generale - FORGE, commented: "Bridging the digital
asset industry and traditional finance requires a multifaceted
approach incorporating institutional-grade technology, regulation,
as well as industrial capacities. By partnering with METACO, SG
- FORGE will be able to leverage their secure infrastructure to
ensure that we have a solid foundation to grow our digital asset
market activities."
Adrien Treccani, CEO and
Founder of METACO, commented: "Societe Generale plays a key
role in shaping the future of finance. A leading innovator on
digital securities, SG - FORGE is setting the standard for
the asset class, providing a model for a fully regulated and
integrated ecosystem across traditional and DLT-based systems of
finance. We are proud to partner with SG - FORGE and provide our
industry leading digital asset infrastructure to support the bank
in its vision of bridging traditional and digital finance."
Alexandre Fleury Co-Head of
Global Markets Activities, Societe Generale,
commented: "Leveraging on the differentiating expertise
of SG - FORGE and our intimate knowledge of markets
activities, this partnership shows Societe Generale' capacity to
step-by-step implement a truly innovative technology, thus helping
build tomorrow's global capital market distribution approach and
infrastructure."
A leading technology provider to top tier, regulated financial
institutions in the digital asset ecosystem, METACO's
infrastructure is supporting key live implementations, in various
regulatory jurisdictions, including Switzerland, Germany, United
Kingdom, and Singapore,
with other notable projects in progress in jurisdictions such as
the United States, Australia and Hong
Kong.
About Societe Generale - FORGE
Societe Generale - FORGE, a fully integrated subsidiary of
Societe Generale, licensed as an investment firm under MiFID
regulation, has built an open, secure and institutional-grade
framework for Security Token operations, underpinned by full
banking level safety and regulatory compliance. Societe Generale -
FORGE provides issuers, lead managers and investors end-to-end
services to issue, invest and manage digital-native security tokens
registered on public blockchains.
Societe Generale - FORGE's Security Tokens are compliant with
the CAST[1] open-source interoperability and
securitization framework. For more information, visit
www.sgforge.com and www.cast-framework.com
About METACO
Founded in 2015 in Switzerland,
METACO is a technology company whose mission is to enable financial
and non-financial institutions to securely manage their digital
asset business and capitalize on the burgeoning digital asset
economy.
The company's core product, Harmonize, is an orchestration
system for digital assets. From cryptocurrency custody and trading
to tokenization, staking and smart contract management, the
platform seamlessly connects institutions to the new world of
decentralized finance (DeFi).
METACO has established itself as the Tier 1 banking standard,
trusted by and in live production with global custodians,
exchanges, private and universal banks. Its software, technology
and infrastructure solutions enable financial institutions to
store, trade, issue and manage digital assets, with the highest
possible security and agility. For more information, visit
www.metaco.com
[1] Compliant Architecture for Security
Tokens
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SOURCE METACO