Crypto continues to gain more popularity in the mainstream, as the European Investment Bank plans to use blockchain technology to issue two-year digital bonds. The bank wants to use Ethereum to register €100 million (~$120M) worth of digital notes. Handling the sale will be Goldman Sachs, Banco Santander, and Société Générale.
The decision to use Ethereum for registering digital bonds is seen as strengthening the idea that Ethereum’s value proposition is that of a “global settlement layer,” as its biggest supporters have long claimed the potential Ethereum has in acting as a base layer for transactions of several forms.
Ethereum is now the most used smart contract platform as it records around 1.5 million transactions per day.
DeFi and NFTs may have helped popularize the network, but Ethereum still needs to gain the trust of big institutions, such as banks – and this is exactly what the decision by the European Investment Bank is doing, thus opening the door for mass crypto adoption.
Even if Ethereum is not as well known as Bitcoin, it is truly gaining in popularity, especially as a result of NFTs. Also, in February, CME Group has launched ETH futures.