AXA Investment Managers has successfully completed its first live market transaction using stablecoins issued by SG Forge, the digital asset arm of Societe Generale.
For this transaction, AXA IM initially purchased €5 million worth of CoinVertible stablecoins (EURCV), a digital asset on the Ethereum public blockchain, pegged to the euro. These stablecoins were then utilized to invest in a green bond issued by Societe Generale, presented as ‘security tokens’ on the Ethereum public blockchain.
This green bond notably includes reporting on the carbon footprint impact of the security issuance chain infrastructure.
Laurence Arnold, head of innovation and strategic initiatives, stated: “The aim of this initiative, carried out in collaboration with Societe Generale – Forge, was to enable us to experiment with the use of a stablecoin as a settlement asset to purchase a digital bond. Our ultimate objective is to optimize our existing processes by adopting the most advanced technologies, so we can offer the best possible services to our clients.”