Societe Generale now offers a range of capital market products using Tezos and leveraging METACO’s Harmonize solution

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Societe Generale

Societe Generale are the 3rd bank in France by assets and the 7th in Europe. They have more than 146,000 employees and a turnover of more than 23 billion euros.

They have in the past work with Tezos to test the implementation of a potential CDBC for the Banque De France experiments.

They had also been involved in the EURL Lugh stablecoin developed by a consortium including retail giant Casino Group, where the bank would store the stablecoin.

METACO Harmonize

METACO was founded in 2015 and is headquartered in Switzerland. The company enables financial and non-financial institutions to capitalize on the digital asset economy, offering a range of custody, trading and DeFi solutions.

The main product of METACO company is called ‘Harmonize’, which is a digital asset orchestration system.

The Harmonize platform enables institutions to issue, store, exchange, and manage cryptocurrencies and digital assets.

It provides a single platform for ‘…several custodial, trading and tokenization solutions in a unified operating system, available in SaaS Cloud mode or on premise.’

Orchestration in this sense means that a single platform is able to orchestrate and control many elements of a digital asset stack, which can often require separate platforms (i.e. say conservation and DeFi).

It also ensures that full compliance can be achieved across the stack. This makes METACO’s Harmonize solution flexible and efficient, while ensuring that digital asset regulations can always be met.

Societe Generale, METACO & Tezos

On May 4, it was announced that METACO had integrated Tezos and Tezos staking into its Harmonize digital asset solution.

Adrian TreccaniCEO and Founder of METACO said:

As institutional adoption of digital assets accelerates, investors are gaining a broader appetite for crypto assets, with interest in the areas of DeFi, staking and tokenization gaining traction. Therefore, orchestrating these complex capabilities and interactions across an increasingly diverse set of digital asset applications has become a critical need for many institutions.

METACO Harmonize, our digital asset orchestration system, gives institutions the flexibility to meet this need. Integrating Tezosa leading proof-of-stake blockchain, in our orchestration system demonstrates our industry-leading innovation by providing customers with the cutting-edge technology and flexibility they need to keep pace with the digital asset ecosystem by rapid evolution.

It was stated that integration: ‘…enable institutions to manage a comprehensive list of features on the Tezos blockchain, including staking capabilities, via the two delegated staking services, which allow clients to generate low-interest rewards by joining shared staking pools or by staking directly to dedicated validators.’

According to METACO, there was market demand for Institutional grade staking infrastructure.

On June 30, it was announced that Societe Generale FORGE had partnered with METACO to expand its institutional digital asset capabilities.

Societe Generale FORGE has chosen METACO to use its bank-grade digital asset custody and orchestration platform, Harmonize, to further expand its offering at scale.

In the press release of the partnership, Tezos was mentioned:

“Societe Generale now offers a range of capital market products to institutional clients in a native security token format on Ethereum and Tezos with full banking-level security and regulatory compliance.”

The timing of this partnership and the use of a native security token format on Tezos with full bank-level security and regulatory compliance looks positive as the EU seeks to come up with new frameworks for digital assets.

The press release also covered this changing EU environment:

“These developments are part of a broader context marked by the acceleration of the digitization of the market thanks to blockchain technology, in particular through the upcoming implementation of the European pilot regime and which will allow the processing of security tokens via infrastructures. market in compatibility with applicable European regulations. ”

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