Generali Investments through Generali Insurance Asset Management on behalf of the French company Generali IARD purchased on the secondary market tokens of securities of digital bonds issued in April 2021 by the European Investment Bank (EIB). This transaction took place in the Ethereum infrastructure through the Forge solution from Société Générale in the amount of EUR 500,000. Announced in April 2022, it continues the initiatives that Generali has already implemented since 2021 on the blockchain.
Advantages of blockchain for investors
Blockchain or “chain of blocks” in French has existed since 2008. It is a distributed database that allows you to store information securely, securely and unchanged through cryptography. There is no control body on the Ethereum blockchain, the reality is guaranteed by “miners” who check the various transactions grouped into blocks. They analyze the complete history of the blockchain, using very powerful machines to run complex algorithms.
Due to its characteristics, the blockchain is a tool that is especially suitable for financial transactions. Thus, among its uses, the technological revolution of the blockchain makes it possible to directly connect institutional investors to short-circuit management companies.
Generali continues to innovate in asset management through blockchain
Generali Group made its first market transaction on a public blockchain, an operation that is one of the first of its kind in Europe.
” New technologies, such as the blockchain, are crucial to gaining new strategic skills related to the asset management business. We are proud to be one of the leading European players in this field commented Carlo Trabattoni, CEO of Generali Asset & Wealth Management. “This operation is part of our innovative approach. As an institutional investor, we want to accelerate in this area by experimenting with innovative technologies to be ready to invest in future new ecosystems. ” added Jean-Laurent Granier, CEO of Generali France.
These tools are a key asset in the transformation of asset management processes. In the near future, the digitalization of capital markets can bring significant benefits to all stakeholders, in particular by increasing the transparency of exchanges and speeding up settlement processes.
Shareholder and user of IZNES Generali since 2021
This transaction is a new step in Generali’s commitment to the blockchain. Indeed, since January 2021, Generali has been a shareholder in IZNES, the first pan-European platform for processing OPC transactions using blockchain technology. IZNES offers a comprehensive solution, available to management companies and their client-investors, from entry into registration. Using IZNES blockchain technology without recourse to banking intermediaries facilitates access to funds, reduces transaction costs and provides an optimal level of security for institutional investors and management companies.
In January 2022, Generali placed its first subscription orders for SCI ViaGénérations de Turgot AM shares through this platform. In addition to UCI’s production operations since June 2021, the continued deployment of the IZNES solution for real estate units thus confirms its added value: an all-digital process that replaces manual processes and paper media. Increase, which should continue in 2022 with the expansion of funds and increase in assets and orders through the IZNES platform.