Italy’s state development bank (CDP) and its largest lender, Intesa Sanpaolo, have issued the country’s first digital bonds using blockchain technology. The €25 million bonds, with a four-month maturity, were issued by CDP on the Ethereum-based Polygon network under Italy’s new digital asset regulations. This initiative is part of the European Central Bank’s program to test fiat settlement methods on blockchain. Global banks are increasingly exploring blockchain for traditional financial tools to achieve faster settlements, greater transparency, lower costs, and enhanced efficiency. Niccolò Bardoscia from Intesa Sanpaolo stated that this transaction demonstrates the powerful potential of public blockchains for financial institutions, predicting transformative impacts on all asset types in the coming years.
Source: coindesk.com
