Two banks from Sweden and France launched a new digital bond platform built on blockchain technology.
The momentum is increasing in the moves of traditional financial products towards blockchain and digital asset technology. Many banks on a global scale are conducting research to take advantage of the speed and stability of blockchain.
A new blockchain platform has been unveiled in partnership with two banks based in Sweden and France, Skandinaviska Enskilda Banken (SEB) and Credit Agricole Bank (CAB).
Blockchain Move from Two European Banks
The blockchain platform, created by the partnership of Sweden-based bank Skandinaviska Enskilda Banken (SEB) and France-based bank Credit Agricole Bank (CAB), launched.
The blockchain platform, launched with the partnership of the two banks, will act for the purpose of sustainable digital bonds. The platform represents the first use case of the blockchain protocol called “Proof of Climate”.
This platform will make it easy for institutional clients to issue bonds digitally. In addition, the exchange and payment of these bonds will be facilitated, bringing efficiency to traditional methods. According to the statements, this emerging blockchain platform plans to use a verification system called “Proof of Climate awaReness” and minimize environmental usage burdens.
Romaric Rolleti, head of innovation and digital transformation at Credit Agricole, thinks that this blockchain platform will have an important place in the transformation of traditional finance into digital. Rolleti also includes;
“The platform’s innovative approach to both blockchain infrastructure and the securities market is combined with a strong commitment to green and sustainable finance, which is at the heart of our Community Project.”
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