This just in, European Banks, SEB and Crédit Agricole CIB have collaboratively announced the launch of so|bond, a first-ever platform for digital bonds that leverages blockchain technology.
The launch will enable the issuance of digital bonds through smart contracts in capital markets with better efficiency and real-time data synchronization across participants. Furthermore, the infrastructure will use the Proof of Climate awaReness protocol to minimize the environmental footprint.
To encourage this logic, the ecosystem will remunerate each node based on a formula linked to its climate impact evaluated with the Life Cycle Assessment ISO standard.
In the announcement, SEB stated that “The platform’s open, transparent and secure model also fosters trust between market participants and allows further innovations such as using a future central bank digital currency.”
SEB and Crédit Agricole CIB took help from the IT provider Finaxys to develop blockchain infrastructure.
Anna Sjulander, Head of sovereigns, supranational, and agencies debt capital markets at SEB stated, “The launch of the digital bond platform is an important step for SEB, and for the issuers and investors that join the platform, and will allow us to gain insights into what the innovative space of digital assets mean for the financial services industry.”
Also Read: Hong Kong Prepares to Sell its Debut Digital Green Bond