Société Générale Issues Tokenized Bonds of €100m to… Itself.

28 April 2019

Each week we share the latest news in the Security Token industry. This is newsletter #33— subscribe here to get it in your inbox every Thursday.


 

As mentioned in last week’s newsletter, the Enterprise Ethereum Alliance launched the Token Taxonomy Initiative. This is a step in the right direction, because we need to have an understanding of what we mean when we say ‘security token’, ‘tokenized security’, or ‘tokenized fund’.

This is not just important in normal conversations with friends or colleagues, but also on a grander scale.

Consider this quote from a report by the University of Cambridge which we include in our long read section below:

“The absence of consensus over terminology, definitions, and classification can be a key barrier to the development of a robust regulatory framework and may hamper further regulatory harmonisation across jurisdictions.”

 

QUOTE

We can’t deploy protocols for use at the central or commercial banks without fine-tuned privacy! It seems obvious, but we need privacy that ~actually~ works.

— Economist Jean-Baptiste Gossé from the French Central Bank at a Tezos summit, paraphrased on Twitter

 

NEWS

💰 French bank Société Générale issued €100m of covered bonds as tokens on the Ethereum blockchain. The banks tokenized bonds project was a pilot run by a blockchain subsidiary, and as such all tokens were issued to the bank itself.

💸 An extra funding round of $100m into tokenized security trading platform tZero has been delayed — but was scheduled to close this month.

⛓️ Online investment platform for private securities CapBridge is launching 1exchange, a private securities exchange using EthereumThe exchange’s tech is built with the help of Consensys.

👛 Samsung has invested €2.6m into French hardware wallet company Ledgerputting the company at a valuation of €260m.

 

LONGER READS

⚖️ The Cambridge Centre for Alternative Finance issued a massive report discussing the global cryptoasset regulatory landscapeThe entire report of 123 pages, is very comprehensive. And a lot to take in.

🏗️ The state of security token development, by blockchain development company Dappros. The overview mostly looks at public Github commits (so not necessarily a great indicator of success), but it still provides an interesting insight.

🆚 An interesting article by BreakerMagOn the competition between US-based security token trading platforms.

 

NEW DEALS

🇧🇬 Blueshares is issuing a token representing equity in Interprom Mining, a Switzerland-incorporated Bulgarian construction and mining company. The prospectus (download here) shows the company is looking to raise up to €128m.

POSTSCRIPT

For some time, we’ve been working on a new label for this newsletter, with a proper brand, more insights, and overall a better experience.

We’re still working on the website, but hope to have it live within the next couple of weeks. For now, a question to you: Is there anything that you miss in the tokenization space?

Specific Overviews? (e.g. of tokenization platforms)
Case studies?
Job openings? 
Press Releases?

Reply to this article below to tell us.

See you next week! 👋

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