Euroclear, an established securities settlement house, has launched its Digital Securities Issuance (D-SI) service.
Euroclear, an established securities settlement house, has launched its Digital Securities Issuance (D-SI) service and successfully settled a digital World Bank bond for €100 million ($106 million).
Using Distributed Ledger Technology (DLT), the service facilitates the issuance, distribution, and settlement of entirely digital international securities - Digitally Native Notes (DNN). The launch marks the first important step of Euroclear’s Digital Financial Market Infrastructure (D-FMI) strategy.
The International Bank for Reconstruction and Development, a lending arm of the World Bank, issued the three-year bond, known as a digitally native note, to raise funding for sustainable development. It was officially listed on the Luxembourg Stock Exchange on October 23.
Lieve Mostrey, Euroclear group CEO, said:
“The integration of DLT in asset issuance is a critical step forward in the evolution of our ecosystem’s digital capabilities, as we continue to deliver on our goal of becoming a fully digital and data enabled Financial Market Infrastructure.”
Euroclear's digital infrastructure is connected with its traditional platform for secondary activities and complies with the Central Securities Depositories Regulation of the European Union. The bond was issued in accordance with English law, with Citi Issuer Services acting as issuing and paying agency and TD Securities acting as issuer agent.
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