European Investment Bank, the Luxemburg-based lending arm of the European Union, will be issuing 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, European Investment Bank is one of the largest lending institutions in the world, with E.U. members acting like its shareholders.
Societe Generale issued its first bond on the Ethereum blockchain back in April 2019 to trial the blockchain technology. Santander also redeemed its $20 million bond issued on the blockchain 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.