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Ether Hits New All-Time High as European Union's Bank Chooses Ethereum to Issue 2-Year Bonds

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Tue, 04/27/2021 - 16:22
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Alex Dovbnya
The European Investment Bank will issue 2-year bonds on the Ethereum blockchain
Ether Hits New All-Time High as European Union's Bank Chooses Ethereum to Issue 2-Year Bonds
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The European Investment Bank, the Luxemburg-based lending arm of the European Union, will be issuing €100 million worth of 2-year bonds due Apr. 28, 2023, on the Ethereum blockchain, Bloomberg reports.     

Their issuance will be managed by such banking giants as Goldman Sachs, Santander Group, and Societe Generale. 

Founded in 1958, the European Investment Bank is one of the largest lending institutions in the world, with E.U. members acting like its shareholders.   

Related
Ethereum Could Still Be Classified as Security, According to SEC

Societe Generale issued its first bond on the Ethereum blockchain to itself back in April 2019 in order to trial the technology. Santander also redeemed its own $20 million bond in December 2019 to show that Ethereum is applicable for debt security management.            

Ether, the native token of the Ethereum network, hit a new all-time high of $2,683 at 4:02 p.m. UTC on the Bitstamp exchange. Ether is up over 270 percent in 2021.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.