Earlier this year, Societe Generale along with other banks such as Goldman Sachs and BNP Paribas announced a new derivatives- trading platform for bitcoin, called Crypto Facilities.
Crypto Facilities is a newly launched London-based bitcoin derivatives trading platform.
The platform lets customers trade forward contracts but will specialize in future and options tied to the price of bitcoin and will enable businesses and investors to hedge their digital currency exposure.
The exchange is supported by co-founders who have immense experience in London’s traditional financial markets. Timo Schlaefer was the executive director at Goldman Sachs.
He co-founded the firm with Jean-Christophe Laruelle, who used to create trading platform systems for Societe Generale and BNP Paribas.
Furthermore, Societe Generale known is now looking to hire a developer with a focus on bitcoin.
The bank has posted a job listing for an “IT developer on bitcoin, blockchains and crypto currencies”. In terms of assets, Societe Generale is the third largest bank in France, reporting $1.3 tn in assets in the year of 2014.
The contract will last for 12 months and is a specific contract, under Business France’s eligibility criteria. The job is open for candidates who are under the age of 28 and from the member states of the European Economic Space.
The listed responsibilities of the position notably include: programming ; developing Proof- Of- Concept in any language/ protocols used in crypto currency protocols and blockchains ; running statistics against blockchains.
The Job position is as a VIE, known as International Volunteer Program, and will also be part of the Information Technologies of Societe Global Banking and Investor Solution.
The Information Technology is in charge of providing other departments with the information System support.
In every implantation of Societe Global Banking and Investor Solution which in all over the world, Information Technology products and manages high quality and competitive tools researching technology and cost standards.
Once Societe Generale finds the deserving person for the job, it will become one of the latest banks to start devoting resources to bitcoin and blockchain research.
The bank stated in its job listing post that how this position is a part of an effort to evolve the technology- driven changes in the financial sector.
The post stated, “the type of position that is offered is at the forefront of SocGen’s attempt at anticipating sweeping changes in the banking sector caused by Fintech and adapt it.
You will acquire strong competence on technology that will prepare you to a position of developer on crypto currencies/ blockchains and banking: RAD / Prototype programming.”