Ethereum Wallet by Wirex to be Released

Users of the platform in the European Economic Area (EEA) can now buy, sell and exchange ETH tokens for 50 other altcois
04 September 2018   1125

The popular British online banking platform Wirex has implemented a wallet for the second on the capitalization of the Ethereum crypto currency.

Users of the platform in the European Economic Area (EEA) can now buy, sell and exchange ETH tokens for 50 other altcois, and also convert them to fiat funds and spend them with a Wirex card.

Previously, Wirex launched a purse for Ripple.

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   90

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.