HSBC implements EIB bond on its digital assets platform
27 November 2024 France
Image: Askar/stock.adobe.com
HSBC has announced that it has successfully implemented the European Investment Bank’s (EIB) latest digital bond onto its digital assets platform, HSBC Orion.
The EIB bond was settled using wholesale central bank digital currency on the Banque de France’s DL3S platform, which both companies say demonstrates interoperability between DL3S and HSBC Orion.
Global investors will now be able to access the EIB bond on HSBC Orion through custody accounts held with BNP Paribas, HSBC, or J.P. Morgan, which will further widen market access for a number of clients.
Director general of finance at EIB, Cyril Rousseau, states: “EIB’s new blockchain-based bond marks a significant step forward in our journey to modernise capital markets and leverage innovative technology in finance. As the European Investment Bank, we are proud to lead this effort.”
John O’Neill, group head of digital assets and currencies at HSBC, concludes: “It represents another step in realising the full potential of DLT and digital assets in the European financial ecosystem, enabling bond issuers and investors to benefit from increased speed and reduced risks while closely aligning with the highest regulatory standards.”
The EIB bond was settled using wholesale central bank digital currency on the Banque de France’s DL3S platform, which both companies say demonstrates interoperability between DL3S and HSBC Orion.
Global investors will now be able to access the EIB bond on HSBC Orion through custody accounts held with BNP Paribas, HSBC, or J.P. Morgan, which will further widen market access for a number of clients.
Director general of finance at EIB, Cyril Rousseau, states: “EIB’s new blockchain-based bond marks a significant step forward in our journey to modernise capital markets and leverage innovative technology in finance. As the European Investment Bank, we are proud to lead this effort.”
John O’Neill, group head of digital assets and currencies at HSBC, concludes: “It represents another step in realising the full potential of DLT and digital assets in the European financial ecosystem, enabling bond issuers and investors to benefit from increased speed and reduced risks while closely aligning with the highest regulatory standards.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
