$520B state-owned Italian bank trials digital bonds on Polygon
The trial was part of an initiative set up by the European Central Bank to identify how blockchains can facilitate central bank money settlement.
Italy’s state-owned bank Cassa Depositi e Prestiti SpA has just completed a $27.2 million digital bond issuance with trillion-dollar investment bank Intesa Sanpaolo using Ethereum layer-2 Polygon.
The transaction was part of a trial conducted by the European Central Bank to identify new solutions for central bank money settlement of wholesale transactions carried out on blockchains, Intesa Sanpaolo explained in a July 18 statement.
It was the first transaction of its kind since Italy introduced its FinTech decree law, which governs the issuance and circulation of financial instruments in digital form.
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Author: Brayden Lindrea
