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European Investment Bank Issues $121M Digital Notes Using Ethereum
Goldman Sachs, Banco Santander SA and Societe Generale AG served as joint managers.
The European Investment Bank (EIB), the lending arm of the European Union, used Ethereum technology to issue €100 million ($121 million) in two-year digital notes for the first time, the EIB said in a statement.
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- Goldman Sachs, Banco Santander SA and Societe Generale AG served as joint managers for the notes, issued on April 28.
- The EIB said the transaction is a series of bond tokens on a blockchain, where investors purchase and pay for the security tokens using traditional fiat.
- The notes have a zero percent coupon and will be registered on the blockchain, according to a Bloomberg report.
- The number of banks joining the club for state-backed blockchain bond issuance has been expanding. In September, according to reports, the Bank of Thailand launched a blockchain-enabled platform for the issuance of government saving bonds.
- In November, the China Construction Bank (CCB) tapped Labuan-based digital asset exchange Fusang for the issuance of $3 billion worth of debt securities over a blockchain.
Read more: Germany’s Central Bank Tests Blockchain Solution to Counter CBDCs
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
