Societe Generale Completes Blockchain Bond Trade

AXA Investment Managers and Societe Generale’s digital assets division, Forge, have successfully completed their first transaction based on blockchain infrastructure. The buy-side institution purchased €3 million euros worth of bonds issued by the EIB in the form of security tokens using the public blockchain Ethereum according to a story in The Trade news. Blockchain has continued to grip the market in the last year as market trends like decentralized finance (DeFi) grow in popularity. DeFi aims to bring a more democratized approach to the capital markets by challenging traditional infrastructure that relies heavily on financial intermediaries. Instead, using blockchain technology smart contracts can automatically self-execute based on data provided by DeFi networks like Pyth which has seen several institutions agree to feed their transaction data into to support the trend.