📋 Tender Overview
On July 25, 2024, the Republic of Slovenia issued its first bond based on Distributed Ledger Technology (DLT). This ground-breaking transaction is the first of its kind issued by a member state of the European Union and, in general, one of the first such issues of any country in the world. The bond is issued as part of the European Central Banks (ECB) trial program for the settlement of securities transactions with central bank money. The DLT solution of the French central bank Banque de France (BdF), called DL3S (Distributed Ledger for Securities Settlement System), was used for the monetary part of the issue settlement.
The BNP Paribas bank acted as the organizer of the issue and the manager of the DLT tokenization platform Neobonds, which operates in the DAML (Digital Asset Modeling Language) programming language on the private and closed Canton distributed ledger technology.
The digital bond of the Republic of Slovenia was issued with a nominal value of EUR 30 million, a coupon of 3.65 percent and a final maturity date of November 25, 2024.
The Republic of Slovenia is striving to introduce new technologies in the management of the countrys debt and in the financial market in general. Such issuances and experiments with tokenized central bank money represent an important step towards greater transparency and efficiency of financial markets through the wider use of such technology. Although currently the prevalence of such technology in financial markets is small in terms of the value of issuance and/or trading, we expect that the importance of distributed ledger technology will increase significantly in the coming years.
