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Societe Generale SCGLY announced the issuance of its first-ever digital green bond on the Ethereum public blockchain in the form of a Security Token.

What Happened: SG-Forge, Socits subsidiary, registered the bond worth around $11 million, and it went live on Nov. 30, 2023. With a maturity of three years, the bonds green status implies net proceeds to be used for financing or refinancing products and companies classified under the ESG category.

The tokens have been fully subscribed through a private placement by two top-tier institutional investors, AXA Investment Managers and Generali Investments.

AXA acquired and spent 5 million worth of Socit Gnrales euro-denominated ERC-20 stablecoin called EUR CoinVertible (EURCV). This stablecoin was launched in April 2023.

Ethereum was chosen as the blockchain boasts relatively low greenhouse gas emissions. Socit Gnrales stablecoin was also launched on the Ethereum blockchain.

Why It Matters: The green bonds digital infrastructure enables all-time access to the data on its carbon footprint through the smart contract. It also ensures transparency, better fluidity, and high speed in transactions and settlements.

The bond also has a technical option for investors to settle securities on-chain through the EUR CoinVertible, a euro-pegged stablecoin.

AmidCentral Bank Digital Currencies (CBDCs) gaining prevalence globally, the third-largest bank in France said, While CBDC solutions are being experimented with, this panel of settlement methods demonstrates the large capabilities of SG-FORGE in providing a full spectrum of on-chain services.

Now Read:Bitcoin ETFs: Taiwan Takes Caution Despite Global Frenzy, Citing Crypto Volatility

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World

Elon Musk hints 80-hour-a-week DOGE job for ‘high-IQ revolutionaries’ will be unpaid

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Elon Musk hints 80-hour-a-week DOGE job for 'high-IQ revolutionaries' will be unpaid

“Super high-IQ revolutionaries” who are willing to work 80+ hours a week are being urged to join Elon Musk’s new cost-cutting department in Donald Trump’s incoming US government.

The X and Tesla owner will co-lead the Department Of Government Efficiency (DOGE) with former Republican presidential candidate Vivek Ramaswamy.

And in a post on X, the official DOGE account put out a call to arms for people to sign up and help “dismantle government bureaucracy”.

The post said: “We are very grateful to the thousands of Americans who have expressed interest in helping us at DOGE.

“We don’t need more part-time idea generators.

“We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting.

“If that’s you, DM this account with your CV. Elon & Vivek will review the top 1% of applicants.”

Read more:
Who is in Trump’s top team?
Trump’s cabinet signals tough stance on China

Elon Musk speaks after President-elect Donald Trump spoke during an America First Policy Institute gala at his Mar-a-Lago estate. Pic: AP Photo/Alex Brandon
Image:
Elon Musk speaking at an event held at Donald Trump’s Mar-a-Lago estate. Pic: AP Photo/Alex Brandon

In a reply to an interested party, Mr Musk suggested the lucky applicants would be working for free.

“Indeed, this will be tedious work, make lost of enemies & compensation is zero,” the world’s richest man wrote.

“What a great deal!”

When announcing the new department, President-elect Donald Trump said Mr Musk and Mr Ramaswamy “will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies”.

Mr Musk has previously made clear his desire to see cuts to “government waste” and in a post on his X platform suggested he could axe as many as three-quarters of the more than 400 federal departments in the US, writing: “99 is enough.”

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World

At least 10 dead after fire rips through retirement home in Spain

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At least 10 dead after fire rips through retirement home in Spain

At least 10 people have been killed after a fire broke out at a retirement home in northern Spain in the early hours of this morning, officials have said.

A further two people were seriously injured in the blaze at the residence in the town of Villafranca de Ebro in Zaragoza, according to the Spanish news website Diario Sur.

Jardines de Villafranca nursing home following the fire.
Pic: AP
Image:
Two people remain in a critical condition following the blaze. Pic: AP

They remain in a critical condition, while several others received treatment for smoke inhalation.

Firefighters were alerted to the blaze at the residence – the Jardines de Villafranca – at 5am (4am UK time) on Friday.

Residents are moved out of the nursing home following the fire.
Pic: AP
Image:
Several residents were treated for smoke inhalation. Pic: AP

Those who were killed in the fire died from smoke inhalation, Spanish newspaper Heraldo reported.

The residence is home to 82 elderly residents.

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The blaze started in one of the rooms, Fernando Beltran, the national government’s top official in the region, told reporters.

All of the victims were elderly residents, he added.

Relatives waiting for news outside the nursing home where least 10 people have died in a fire in Zaragoza, Spain.
Pic: AP
Image:
Relatives wait for news outside the care home. Pic: AP

Fire crews, paramedics and police officers remain on site, said a spokesperson for the regional government of Aragon who confirmed the fatalities.

It took firefighters several hours to extinguish the blaze, they said.

The cause of the fire is unknown and is being investigated.

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US

Elon Musk hints 80-hour-a-week DOGE job for ‘high-IQ revolutionaries’ will be unpaid

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Elon Musk hints 80-hour-a-week DOGE job for 'high-IQ revolutionaries' will be unpaid

“Super high-IQ revolutionaries” who are willing to work 80+ hours a week are being urged to join Elon Musk’s new cost-cutting department in Donald Trump’s incoming US government.

The X and Tesla owner will co-lead the Department Of Government Efficiency (DOGE) with former Republican presidential candidate Vivek Ramaswamy.

And in a post on X, the official DOGE account put out a call to arms for people to sign up and help “dismantle government bureaucracy”.

The post said: “We are very grateful to the thousands of Americans who have expressed interest in helping us at DOGE.

“We don’t need more part-time idea generators.

“We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting.

“If that’s you, DM this account with your CV. Elon & Vivek will review the top 1% of applicants.”

Read more:
Who is in Trump’s top team?
Trump’s cabinet signals tough stance on China

Elon Musk speaks after President-elect Donald Trump spoke during an America First Policy Institute gala at his Mar-a-Lago estate. Pic: AP Photo/Alex Brandon
Image:
Elon Musk speaking at an event held at Donald Trump’s Mar-a-Lago estate. Pic: AP Photo/Alex Brandon

In a reply to an interested party, Mr Musk suggested the lucky applicants would be working for free.

“Indeed, this will be tedious work, make lost of enemies & compensation is zero,” the world’s richest man wrote.

“What a great deal!”

When announcing the new department, President-elect Donald Trump said Mr Musk and Mr Ramaswamy “will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies”.

Mr Musk has previously made clear his desire to see cuts to “government waste” and in a post on his X platform suggested he could axe as many as three-quarters of the more than 400 federal departments in the US, writing: “99 is enough.”

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