THE DeFi is growing and introduced loans and loans on a large scale. The volumes of institutional negotiations are “exploding” according to reports.
The latest news involving the launch of a historic title at a price of 100 million euros ($ 121 million) may be among the most optimistic in terms of global financial acceptance.
European Investment Bank is issuing 2 year digital bonds on Ethereum through Goldman, Santander, and Societe.
– Michael Tant (@ MichaelTant3) April 27, 2021
The European Investment Bank is issuing 2-year digital securities on Ethereum through Goldman, Santander and Societe. Wow. @GoldmanSachs #Ethereum @RaoulGMI
History under construction: European Investment Bank launches blockchain bonds
In according to Bloomberg Law, the European Investment Bank plans to offer two-year notes in an inaugural sale. What is unique about this development is that the EIB used the Ethereum blockchain to launch the bonds.
Citing undisclosed sources familiar with the matter, the notes will be registered on the Ethereum blockchain using smart contracts, and the sale itself will be managed by banking giants like Goldman Sachs, Banco Santander SA and Societe Generale. Tokenized bonds could then, in theory, be issued to buyers through an Ethereum portfolio.
The European Investment Bank is a publicly owned international financial institution founded in 1958 that has a direct interest in the EU’s economic and social policy.
Ethereum rockets for new highs at peak
It is not very surprising that Ethereum has made a race for new spikes in the wake of the news. The highest rated altcoin has outperformed Bitcoin since its inception, and things have only increased since then.
More recently, altcoin has started to make a strong recovery in its BTC trading pair and against the main cryptocurrency by market capitalization. Today, due to unprecedented news about EIB bonds, Ethereum made another climb to set a new historical record of $ 2,683 per ETH at the time of writing.
The crypto market is heated, so the numbers may have already changed by the time you are reading this. Ethereum, in particular, is even hotter.
Institutional transaction volumes started off much healthier than when CME Bitcoin Futures debuted. This debut also marked the top and the beginning of the bass market, while Ethereum has only strengthened since then.
As the backbone of most blockchain today, Ethereum is potentially undervalued, despite the recent rush for new highs and a figure close to double the peak of the last cycle.
Competitors are gaining ground and doing well, although they have barely crushed Ethereum, which is only thriving more because of it. The emergence of Chain as Binance Smart Chain and others has only lessened the impact of ETH gas charges and helped to make Ethereum itself palatable again.
With developments like this, it proves how far Ethereum really is in relation to the rest of the space, and why these recent imitators may not stand a chance, despite the recent hype.