The European Investment Bank (EIB) has already made three blockchain issuances on different platforms. It is now planning a digital bond in the new network recently launched by Credit Agricole CIB and SEB, so|bond, Global Capital first reported.

Banks described so|bond as sustainable and open. It doesn’t particularly target green bonds, but the blockchain aims to be more sustainable. Node operators have incentives to minimize their environmental footprint.

The EIB was the first to issue digital bonds on platforms launched by Societe Generale Forge, Goldman Sachs and HSBC.

Last month, Xavier Leroy, the EIB financing officer responsible for blockchain issuances, mentioned that two more bonds were planned this year. The EIB aims to be at the forefront of helping innovations take hold as it did with green bonds.

Leroy has previously described the benefits of digital bond issuance as safer, cheaper, programmable, and lower barriers to entry for smaller issuers. However, he doesn’t think we’re there yet because digital releases are in the early stages. He sees a key impediment to tokenization as the lack of conventional custodians backing digital assets because institutional investors want to use their conventional custodians.

Returning to bond issues, we would not be surprised if a future bond platform is with the Hong Kong Monetary Authority (HKMA). Its first digital green bond was issued using Goldman Sachs’ DAP platform, but the syndication also included Bank of China (HK), Credit Agricole CIB and HSBC. There are at least two other digital bonus platforms among the syndicate.

Meanwhile, Credit Agricole CIB is working on a tokenized bond trial with startup BlockInvest as part of the Bank of Italy trials.