Two banks from Sweden and France announced the launch of a new digital bond platform built on blockchain technology. The platform will enable institutional clients to issue, trade and settle bonds digitally, providing a more efficient and secure process than traditional methods.
The platform is a joint project of Skandinaviska Enskilda Banken (SEB) and Credit Agricole (OTC:CRARY) Bank, called “so|bond.“ According to the announcement from April 3, the blockchain network will be using a validation protocol, “Proof of Climate awaReness,” and minimizing its environmental footprint.