Europe’s leading Investment Bank Has Issued a Security Token on the Tezos Blockchain
AI Trading

Société Générale, one of the largest investment bank in Europe has reportedly issued a security token on the Tezos blockchain.

Going by an announcement on 15th April 2021, the new development is the first tokenized asset offered by the investment bank.

Read Also: Wealthchain CEO Kevin Mehrabi Highlights Three Reasons to Mint on Tezos Instead of Ethereum

Societe Generale tweeted, “The Group issues the first structured product as a Security Token on the Tezos public blockchain. This transaction is a new step for Societe Generale – Forge, regulated subsidiary of crypto assets services for our clients.”

AI Trading

According to the bank, the offering of the security token represents the first step in its plan to go fully into the crypto business in 2022.

The investment bank plans to issue tokenized securities that can be incorporated with the legacy banking systems. The report added that the bank also plans to get involved in cryptocurrency exchange and custody services for institutional customers.

Société Générale noted:

“This new experimentation, performed in accordance with best market practices, demonstrates the legal, regulatory and operational feasibility of issuing more complex financial instruments (structured products) on public blockchain.”

Read Also: A 120-Year-Old Retail Giant Will Launch Stablecoin Backed By Tezos

This recent and first security token issuance is the third year in a row when Société Générale will come out with notable development in relation to cryptocurrency.

Tezos Is Testing a New Consensus Algorithm Known as Tenderbake

Tezos has confirmed that it’s testing a new form of consensus algorithm known as Tenderbake. The new algorithm was first publicized last January in a blog post as a blockchain synchronizer and single-shot consensus algorithm.

Read Also: Grayscale Confirms Consideration of New Products in ADA, DOT, LINK, XMR, XTZ, EOS

Tezos developers are currently testing Tenderbake to identify potential errors and optimize its performance.

Follow us on Twitter, Facebook, Telegram, and Download Our Android App

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.