The European Investment Bank, an international financial institution owned by European Union member states, is reportedly exploring blockchain technology for issuing digital bonds.
According to a Tuesday Bloomberg report, the EIB has hired major global banks like Goldman Sachs, Banco Santander and Societe Generale to look at a potential deal involving a euro-denominated bond issued on a blockchain.
Citing a person familiar with the matter, Bloomberg states that the EIB is planning to deploy blockchain technology for the registration and settlement of digital bonds. Investor meetings for the inaugural sale will reportely start on April 15 and continue for several weeks.
The EIB did not immediately respond to Cointelegraph’s request for comment.
Blockchain, the underlying technology of cryptocurrencies like Bitcoin (BTC) and Ether (ETH), has been increasingly implemented in the bond market in recent years. According to HSBC, blockchain presents cost savings opportunities of “more…