Societe Generale issues $112 million in bonds to the Ethereum blockchain

French financial services giant Societe Generale Group issued a $112 million Ethereum blockchain bond in the form of a securities token. The bank's subsidiary, Societe Generale SFH, uses OFH tokens to represent 100 million euros of guaranteed bonds, which are backed by specific assets but remain on the issuer's balance sheet. However, according to a report issued by the bond rating agency Moody's Investors Service, Societe Generale is the “sole investor”, which means that the company issues securities to itself without the participation of external buyers. The bond has a maturity of 5 years and an extension period of 12 months. PricewaterhouseCoopers provides technical advice for the project and is a legal advisor to the French Kidd Law Firm.