Goldman Sachs, Santander and Societe Generale acted as joint lead managers for the transaction, which represents the market’s first multi‑dealer led, primary issuance of digitally native tokens using public blockchain technology.

The EIB issued a series of bond tokens on the Ethereum blockchain where investors purchased and paid for them using traditional fiat.

The joint lead managers then settled the underwriting against the issuer using a representation of central money, a CBDC – thanks to the involvement of Banque de France.

Mourinho Félix, VP, EIB, says that “digital bonds will play a role in giving the Bank a quicker and more streamlined access to alternative sources of finance to boost finance for projects across the globe”.

Frédéric Oudéa, CEO, SocGen, adds that the move “demonstrates the appeal of Distributed Ledger Technology-based projects in the developing EU digital capital markets”.