07-05-2022, 03:28 AM
Societe Generale Counts on Fintech METACO to Grow Digital Asset Activities
<p>
SG-FORCE, a subsidiary
of Societe Generale (SG), a French multinational investment bank, has partnered
with Switzerland-based fintech company, METACO, to ramp up its institutional
digital assets market activities.</p>
</p>
<p>METACO announced the development on Thursday on its website.</p>
</p>
The Swiss company
provides digital asset management technology and infrastructure to financial
and non-financial institutions.</p>
</p>
<p>Additionally, METACO helps companies issue, invest in and manage digital-native security tokens created on
public blockchains.</p>
</p>
<p>SG-FORGE said the
collaboration will enable it to lead efforts to integrate security tokens into
traditional finance.</p><p></p><p>A security token is a physical or digital device that uses two-factor authentication (2FA) to determine the originality of a user's identification details during a login process.</p>
</p>
<p>“Since 2019, Societe
Generale and its subsidiary SG –
FORGE structured several native security token issuances deployed on blockchain
for their clients such as the European Investment Bank's (EIB) €100 million
digital bond issued in 2021,” SG FORCE explained in the statement. </p>
</p>
‘A Solid Foundation’<p></p><p></p>
<p>Moreover, the French subsidiary intends to increase its digital asset marketplace offerings with support from Harmonize, METACO’s
bank-grade digital asset custody and orchestration platform.</p>
</p>
<p>METACO explained that
Harmonize makes it possible to connect financial institutions to the
decentralized finance world. </p>
</p>
<p>Furthermore, the platform powers
activities such as cryptocurrency custody and trading, staking, tokenization
and smart contract management, the Swiss technology and infrastructure provider said.</p>
</p>
<p>Jean-Marc Stenger, the
Chief Executive Officer of SG-FORGE, said SG is seeking to build “a solid
foundation” for its digital asset activities through the partnership. </p>
</p>
Stenger noted that
METACO’s secure infrastructure makes that possible. </p>
</p>
“Bridging the digital
asset industry and traditional finance requires a multifaceted approach
incorporating institutional-grade technology, regulation, as well as industrial
capacities,” Stenger explained. </p>
<p> </p>
<p>On top of that, Adrien
Treccani, the CEO and Co-Founder of METACO, noted that the Swiss company is proud
to join forces with SG-FORGE to provide its infrastructure to support the
bank’s vision.</p>
</p>
<p>Additionally, Alexandre
Fleury, the Co-Head of Global Markets Activities, Societe Generale, said the
partnership proves SG’s capacity to “step-by-step implement a truly innovative
technology.”</p>
</p>
<p>Earlier in the year, SG launched a new
acceleration programme for emerging companies to improve customer experience services in the
transaction banking sector.</p>
</p>
<p>Meanwhile, in June 2021,
Societe Generale teamed up with
Kyriba, a cloud-based finance
and IT solutions provider, to launch a new treasury management solution.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com/fintech/...ctivities/
<p>
SG-FORCE, a subsidiary
of Societe Generale (SG), a French multinational investment bank, has partnered
with Switzerland-based fintech company, METACO, to ramp up its institutional
digital assets market activities.</p>
</p>
<p>METACO announced the development on Thursday on its website.</p>
</p>
The Swiss company
provides digital asset management technology and infrastructure to financial
and non-financial institutions.</p>
</p>
<p>Additionally, METACO helps companies issue, invest in and manage digital-native security tokens created on
public blockchains.</p>
</p>
<p>SG-FORGE said the
collaboration will enable it to lead efforts to integrate security tokens into
traditional finance.</p><p></p><p>A security token is a physical or digital device that uses two-factor authentication (2FA) to determine the originality of a user's identification details during a login process.</p>
</p>
<p>“Since 2019, Societe
Generale and its subsidiary SG –
FORGE structured several native security token issuances deployed on blockchain
for their clients such as the European Investment Bank's (EIB) €100 million
digital bond issued in 2021,” SG FORCE explained in the statement. </p>
</p>
‘A Solid Foundation’<p></p><p></p>
<p>Moreover, the French subsidiary intends to increase its digital asset marketplace offerings with support from Harmonize, METACO’s
bank-grade digital asset custody and orchestration platform.</p>
</p>
<p>METACO explained that
Harmonize makes it possible to connect financial institutions to the
decentralized finance world. </p>
</p>
<p>Furthermore, the platform powers
activities such as cryptocurrency custody and trading, staking, tokenization
and smart contract management, the Swiss technology and infrastructure provider said.</p>
</p>
<p>Jean-Marc Stenger, the
Chief Executive Officer of SG-FORGE, said SG is seeking to build “a solid
foundation” for its digital asset activities through the partnership. </p>
</p>
Stenger noted that
METACO’s secure infrastructure makes that possible. </p>
</p>
“Bridging the digital
asset industry and traditional finance requires a multifaceted approach
incorporating institutional-grade technology, regulation, as well as industrial
capacities,” Stenger explained. </p>
<p> </p>
<p>On top of that, Adrien
Treccani, the CEO and Co-Founder of METACO, noted that the Swiss company is proud
to join forces with SG-FORGE to provide its infrastructure to support the
bank’s vision.</p>
</p>
<p>Additionally, Alexandre
Fleury, the Co-Head of Global Markets Activities, Societe Generale, said the
partnership proves SG’s capacity to “step-by-step implement a truly innovative
technology.”</p>
</p>
<p>Earlier in the year, SG launched a new
acceleration programme for emerging companies to improve customer experience services in the
transaction banking sector.</p>
</p>
<p>Meanwhile, in June 2021,
Societe Generale teamed up with
Kyriba, a cloud-based finance
and IT solutions provider, to launch a new treasury management solution.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com/fintech/...ctivities/