Broadridge’s tokenization platform enabled Societe Generale to issue its first U.S. digital bond, a short‑term floating‑rate debt instrument linked to the Secured Overnight Financing Rate (SOFR). The bonds were registered by Societe Generale‑FORGE, the bank’s digital‑asset subsidiary, and issued as security tokens on the Canton Network blockchain. IntellectEU’s Catalyst Blockchain Manager coordinated the transaction, with Broadridge and SG‑FORGE operating nodes on the network. The issuance was purchased by the trading firm DRW, and while the exact size was not disclosed, industry observers estimate it was modest compared to larger repo volumes handled by the platform.
The transaction marks a significant expansion of tokenization beyond the treasury and structured‑bond markets that Broadridge has traditionally served. By demonstrating that corporate debt can be issued and settled on a permissioned blockchain, the deal opens new avenues for liquidity and settlement efficiencies across a broader range of fixed‑income products. Broadridge’s Distributed Ledger Repo (DLR) platform, which processed an average of $339 billion in daily repo transactions in September 2025 and over $8 trillion on the Canton Network in October 2025, now complements this tokenization capability, reinforcing the company’s leadership in the emerging tokenized‑asset ecosystem.
Broadridge’s Q3 FY2025 financials provide context for the company’s broader strategy. Total revenue reached $1.812 billion, up 5 % year‑over‑year, while operating income rose 14 % to $345 million. Adjusted earnings per share were $2.44, a 9 % increase from the prior year. Management reaffirmed its FY2025 guidance, projecting revenue growth of 6‑8 % and adjusted EPS growth of 8‑12 %. CEO Tim Gokey highlighted the company’s execution, resilience, and steady growth trajectory, underscoring confidence in its long‑term digitization strategy.
Management commentary further illustrates the strategic importance of the issuance. Horacio Barakat, Head of Digital Innovation at Broadridge, said the company is uniquely positioned to lead the tokenization of corporate and structured bonds, calling the expansion an “exciting step.” Jean‑Marc Stenger, CEO of Societe Generale‑FORGE, emphasized that the transaction underscores the bank’s leading position in securities tokenization and its expertise in integrating blockchain instruments.
U.S. digital bond issuances remain rare, making this event a notable milestone in the broader market. The transaction positions Broadridge favorably against competitors such as Fiserv, SS&C Technologies, and Infosys, and signals momentum for wider adoption of tokenized fixed‑income products.
The issuance demonstrates Broadridge’s expanding tokenization capabilities and its potential to capture liquidity and settlement efficiencies in the U.S. market, reinforcing its leadership in the tokenized‑asset ecosystem.
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