Home Cryptocurrency European Investment Bank To Issue Digital Bonds On Ethereum: Report

European Investment Bank To Issue Digital Bonds On Ethereum: Report

by Radarr Africa
European Investment Bank To Issue Digital Bonds On Ethereum: Report

The European Investment Bank (EIB), the investment and development arm of the European Union, plans to price €100 million in bonds registered in the Ethereum network.

According to a Bloomberg report, the European Investment Bank will start using Ethereum to issue two-year digital bonds.

Key Highlight

The European Investment Bank plans to issue approximately $120 million in digital bonds on Ethereum.

The transaction is being aided by Goldman Sachs, Santander, and Société Générale.

Ethereum hit all-time highs shortly after the news.

This report signals Ethereum taking the spotlight courtesy of the European Investment Bank.

It would be recalled that both Santander and Societe Generale have issued bonds on the public Ethereum blockchain in the past, while Societe Generale issued a larger bond, valued at €100 million covered bond issued as a security token which was handed a triple-A rating by Moody’s and Fitch.

Jean-Marc Stenger, chief executive officer of Société Générale’s enterprise blockchain unit Forge, disclosed last year that the bank has a “natural preference” for public blockchains. Forge was set up to help banks issue securities using blockchain technologies.

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