Europe's Investment Bank Plans to Settle Bonds in Euros Using Blockchain: Report

The EU union's lending arm is reportedly readying a digital bond sale using blockchain technology.

Apr 13, 2021 at 6:00 a.m. UTC
Updated Sep 14, 2021 at 12:39 p.m. UTC

The European Union’s lending wing is reportedly planning to trade, settle and sell digital bonds using blockchain technology.

  • According to a Tuesday Bloomberg report, the European Investment Bank (EIB) tasked Goldman Sachs, Banco Santander SA and Societe Generale AG with assessing the feasibility of settling and registering the bonds using the nascent tech.
  • Bloomberg's unnamed source said initial investor meetings will commence April 15 and continue for "weeks." No date was given for the initial sale.
  • The investment bank joins the growing club for state-backed blockchain bond issuance. Thailand’s central bank arrived last year with a government-saving bonds program totaling $1.6 billion.
  • CoinDesk attempted to contact the EIB but did not get a response by press time.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.