European Investment Bank (EIB) issues a $120 million digital Bond on Ethereum
The EIB made news on Apr 27 when it followed what other banks did in the past by saying it would issue $120 million of digital notes with a two-year expiry on Ethereum.
The management of this issue is by Goldman Sachs and others.
For crypto and blockchain fans, what’s important is their decision to opt for Ethereum among other capable blockchains dotting the sphere. It only shows how Ethereum, despite scaling challenges, is attractive.
It may stem from their first-mover advantage but also its widespread adoption, reliability, and expansive reach.
In late 2019, SocGen, a French lender, lent $110 million to itself using Ethereum. At that time, the bank said it would track the efficacy of Ethereum and the capability of smart contracts in automating debt issuance.
The JP Morgan Bombshell: Ethereum versus Bitcoin Supremacy
JP Morgan is a revered megalith in traditional circles.
But that influence doesn’t spill over to crypto.
In fact, for BTC maximalists, the global bank is a foe. So much so that earlier Wednesday, the bank said ETH could, after all, flip BTC in the long run.
Of course, such a statement could be taken as outrageous depending on the reader’s inclination.
However, the bank cited some exciting development and the state of Ethereum as the lynchpin of the crypto ecosystem.
They pointed to DeFi and ETH’s role as a medium of exchange while mentioning the gravitation of BTC as being a store-of-value and a commodity.
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