{"id":34505,"date":"2024-07-19T07:12:05","date_gmt":"2024-07-19T07:12:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/italy-completes-first-blockchain-based-digital-bond-issuance\/"},"modified":"2024-07-19T07:12:05","modified_gmt":"2024-07-19T07:12:05","slug":"italy-completes-first-blockchain-based-digital-bond-issuance","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/italy-completes-first-blockchain-based-digital-bond-issuance\/","title":{"rendered":"Italy Completes First Blockchain-Based Digital Bond Issuance"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Blockchain technology has been successfully used to issue a digital bond by Italy\u2019s largest lender, Intesa Sanpaolo, in conjunction with the state-owned development bank, Cassa Depositi e Prestiti SpA (CDP). Under Italy\u2019s new digital asset legislation, this is the first transaction.<\/p>\n

The \u20ac25 million bond was released on the Ethereum-powered Polygon (MATIC) network, with a four-month maturity. The only investor and underwriter was Intesa Sanpaolo. The \u201cTIPS Hash Link\u201d tool from the Bank of Italy was used to settle the cash flow in euros on the same day (T+0). Interoperability between traditional payment systems and blockchain is made possible by this tool.<\/p>\n

Pioneering Under FinTech Decree-Law<\/strong><\/h2>\n

This issuance is the first under Italy\u2019s \u201cFinTech\u201d decree-law, which regulates the issuance and circulation of digital financial instruments. The initiative is part of the European Central Bank\u2019s (ECB) efforts to explore blockchain for wholesale fiat money settlements.<\/p>\n

Niccol\u00f2 Bardoscia, head of digital assets trading and investments at Intesa Sanpaolo, highlighted the significance of this transaction in a LinkedIn post. He stated, \u201cThis transaction demonstrates how public blockchains are a powerful technology for financial institutions, making transactions faster and safer.\u201d<\/em><\/p>\n

Global banks and asset managers are increasingly interested in blockchain for traditional financial instruments like bonds, credit, and funds. Tokenization of these real-world assets offers operational benefits such as faster and more transparent transaction settlements, lower costs, and greater efficiency.<\/p>\n

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Bardoscia emphasized the broader implications of this technological shift, saying, \u201cTokenization is establishing a new standard for efficiency and automation in financial markets, and I believe this technological change will impact not only bonds but every asset class over the coming years.\u201d<\/em><\/p>\n

The collaboration between CDP and Intesa Sanpaolo sets a precedent for future blockchain-based financial transactions in Italy and beyond. This successful issuance reflects a growing trend among financial institutions to integrate blockchain technology into their operations for enhanced efficiency and security.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Blockchain technology has been successfully used to issue a digital bond by Italy\u2019s largest lender, Intesa Sanpaolo, in conjunction with the state-owned development bank, Cassa Depositi e Prestiti SpA (CDP). Under Italy\u2019s new digital asset legislation, this is the first transaction. The \u20ac25 million bond was […]<\/p>\n","protected":false},"author":34,"featured_media":34506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34505"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=34505"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/34506"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=34505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=34505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=34505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}