Skandinaviska Enskilda Banken (SEB) and Credit Agricole Bank have launched a new digital bond platform called so|bond, built on blockchain technology. The platform will allow institutional clients to issue, trade, and settle bonds digitally, providing a more efficient and secure process compared to traditional methods. The blockchain network will use a validation protocol called Proof of Climate awaReness, which minimizes its environmental footprint and incentivizes participating nodes to improve the environmental footprint of their infrastructures. The so|bond platform is the first use case for the protocol, developed by French IT provider Finaxys. The project is part of Credit Agricole Bank's larger plan for digital transformation and commitment to green and sustainable finance.
(By AVID ATTLEE)
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