The European Investment Bank (EIB) announced that it has partnered with BNP Paribas, HSBC, and RBC Capital Markets to launch its first digital bond denominated in sterling on a private blockchain, crypto media outlet Finbold reported on February 1.

According to EIB, the floating-rate bond worth 50 million pounds ($61.60 million) was recorded on a private blockchain, while a public mirror record would boost openness while maintaining anonymity.

The EIB said that the launch of the digital bond is a component of the organization's larger objective to guarantee that market players have access to goods at lower prices while enhancing efficiency and encouraging real-time data synchronization for interested parties.

Notably, the bond comes after an earlier sale by the bank of digital bonds with the euro as the base currency. Ricardo Mourinho Felix, EIB vice president, said in this sentence that the strategy complements the need for innovation in the financial industry.

Source: FINBOLD