Coinnest and Waltonchain to develop blockchain technologies

Chinese platform Waltonchain announced a strategic investment in Coinnest aiming to boost the development of blockchain industry
10 January 2018   1162

Coinnest, a growing cryptocurrency exchange based in Korea, has announced its partnership with Waltonchain platform, which is aimimg to establish and gradually incorporate retail, logistics and product manufacturing, and to achieve the full coverage of business ecosystem.

Waltonchain announced that it has reached an agreement on cooperation with Coinnest and will make a strategic investment in Coinnest. The aim of the cooperation is to develop blockchain-related technologies and promote the development of blockchain industry as well as Waltonchain business in Korea.

At the moment of press, these are the main market parameters of Walton:

  • Average Price: $18,68
  • Market Cap: $465 182 619 
  • 24h Volume: $59 382 300

Societe Generale to Issue ETH DLT Based Bonds

Societe Generale SFH used the OFH security token, based on Ethereum's public blockchain to issue secured bonds for 100 million euros
24 April 2019   79

French banking corporation Societe Generale Group issued bonds in the form of security tokens, using the public Ethereum blockchain.

On Tuesday, the company announced that its division Societe Generale SFH used the OFH token to issue secured bonds worth 100 million euros. According to the investor services of the rating agency Moody’s, Societe Generale turned out to be the “sole investor” of the financial instrument and did not involve any third-party participants in its purchase.

A bond is issued for a five-year term with a 12-month grace period. The security presented by a token gives its holder the same rights as that issued in traditional form.

Moody’s argues that the use of the blockchain can have a positive effect on the rating of a financial institution, in particular due to increased transparency and reduced likelihood of errors resulting from the difficulties and the number of intermediaries involved in the process of issuing secured bonds using traditional means.

PwC auditing company acted as a technology consultant for the project, while French law firm Gide Loyrette Nouel provided legal support.

Earlier this month, Societe Generale-owned private bank Kleinwort Hambros announced the creation of a exchange traded note, intended for investment in the blockchain industry.