Linklaters Advises BNY Mellon on Groundbreaking EIB Digital Bond Issuance.
Linklaters has provided legal counsel to The Bank of New York Mellon Corporation (BNY) in its role as custodian and paying agent for the European Investment Bank’s (EIB) sixth digital bond issuance. This marks the EIB’s second issuance as part of the Eurosystem’s exploratory trials on leveraging new technologies for wholesale central bank money settlement.
This bond utilizes exploratory cash tokens issued on the Cash DL3S platform by Banque de France, seamlessly integrated in real time with Goldman Sachs Digital Assets Platform (GS DAP). GS DAP, provided by Goldman Sachs Bank Europe SE, serves as a cutting-edge platform for digital bond issuance and tokenization.
Richard Hay, Partner and UK Head of Fintech at Linklaters, commented:
“We are proud to have supported BNY as custodian and paying agent on this ground-breaking project in connection with the issuance by the European Investment Bank of digital bonds registered on the GS DAP.”
The cross-border Linklaters team was led by partners Richard Hay, Nicki Kayser and Burkhard Rinne, and comprised of counsel Sebastian Dey, consultant Delphine Horn, and managing associates Henry Wells and Stefan Gohling.
Linklaters prides itself on being at the forefront of industry advancements and trends across OTC derivatives and trading, structured solutions, and innovative financial markets infrastructure and Fintech. The firm has a long-established reputation in supporting clients globally on a wide range of complex and ground-breaking transactions, having recently advised Euroclear Bank on the establishment and launch of its new Digital Securities Platform and on the issuance by EIB of its first ever digital Climate Awareness Bond and Swedish Krona transaction.
