According to ChainCatcher, the International Capital Market Association (ICMA) has published a DLT-based digital debt reference guide. This document is the result of ICMA's DLT bond working group, chaired by Christoph Hock of Union Investment.
"The token economy, especially DLT-based bonds, has become increasingly important in recent months," Hock mentioned, referring to the recent wholesale DLT settlement trials conducted by the European Central Bank with the aim of increasing activity. He continued, "Currently, we see the entire value chain highly fragmented, and we look forward to strengthening collaboration and standardization, which will play a key role in further building the token world. With its DLT bond reference guide, ICMA and all parties involved have taken a significant step in this direction."
As an asset management company, Union Investment has been one of the most active investors in the digital bond space since April 2021, when the European Investment Bank (EIB) issued its first bond. The EIB has now issued six digital bonds, including two issued in November as part of the ECB's DLT settlement trial.