According to ChainCatcher, Italian 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's second layer Polygon.
Intesa Sanpaolo explained in a statement on July 18 that the transaction was part of a trial conducted by the European Central Bank to identify new solutions for the settlement of central bank currencies for wholesale transactions on a blockchain.
Cassa Depositi’s $27.2 million (€25 million) bond will mature on November 18, 2024, has a four-month term and a fixed coupon rate of 3.63% calculated annually. Intesa Sanpaolo is the sole institutional investor in the trial.