Gide on the issuance of the first structured product as a Security Token on a public blockchain
28 April 2021
Deals | France | Banking & Finance
Gide is proud to announce that it has advised Société Générale on the issuance of the first structured product as a Security Token directly registered on the Tezos public blockchain. The securities were fully subscribed by Société Générale Assurances.
This new experimentation, performed in accordance with best market practices, demonstrates the legal, regulatory and operational feasibility of issuing more complex financial instruments (structured products) on public blockchain. It leverages on this disruptive technology which enables increased efficiency and fluidity of financial transactions: unprecedented capacity of product structuration, shortened time-to-market, automated corporate actions, increased transparency and speed in transactions and settlements, as well as reduced cost and number of intermediaries.
Gide's team comprised Hubert du Vignaux and Bastien Raisse respectively partner and counsel of the Banking & Finance practice group, Franck Guiader and Matthieu Lucchesi, respectively head and senior advisor of Gide 255 / Innovation & FinTech team, together with Richard Ghueldre and Charles-Eric Delamare-Deboutteville respectively partner and counsel of the Insurance practice group.