The European Investment Bank, EIB, has in a recently revealed <a href="https://www.reuters.com/article/eib-bonds/update-2-eib-raises-100-mln-euros-from-two-year-blockchain-bond-idUSL8N2ML346?rpc=401&amp;" target="_blank" rel="nofollow noopener">report</a> has managed to raise $100 million euros from a two-year digital bond in adopting the blockchain technology. The two-year bond is registered in the public Ethereum blockchain network, priced for a yield of -0.601% on Tuesday.
<h2>EIB Backs $121 for a Digital Bond in Adopting Blockchain Technology</h2>
This news of the deal previously drove the second-largest cryptocurrency of the world facilitating the dealings on the Ethereum blockchain, <a href="https://www.cryptoknowmics.com/news/market-watch-bitcoin-ethereum-dogecoin-polygon-ripple/">ether, to a record high</a>.

As told by the funding officials at the European Investment Bank revealed that this was the very first time that a syndicate of banks had managed such a drastic sale.

In addition to this, the funding officials revealed that the bank initially wanted the deal to resemble a standard bond issue as much as possible.

Moreover, the firms and borrowers like the EIB sell a major segment of their bonds through such syndicated, multi-dealer sales.

At present, numerous capital players in the market see blockchain technology, which was initially created to run Bitcoin on it, as a way to smoothen the issuance of securities like equities and bonds.

It is no denying the fact that the traditional process of raising capital is expensive and inefficient and involves a number of steps and multiple parties. Proponents believe that using <a href="https://www.cryptoknowmics.com/news/what-is-blockchain-technology/">blockchain technology</a> could assist in cutting costs, time, and boost transparency.
<h2>Blockchain Capabilities are the Game Changers</h2>
Richard Teichmeister, the Head of Funding, new products and special transactions at the  European Investment Bank has released a statement that read:

“The idea was really to investigate into potential efficiency gains.”

The advanced transparency and time efficiencies that are offered by blockchain specifically, have the potential to change the game for the capital markets.

Also, the EIB has a reputation for pioneering new products in the capital markets of Europe.

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EIB Raises $121 Million For a Digital Bond to Adopt Blockchain Technology

The EIB has in a recently revealed report has managed to raise $100 million euros from a two-year digital bond in adopting the blockchain technology.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

EIB Raises $121 Million For a Digital Bond to Adopt Blockchain Technology

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