It turns out the 100-million euro digital bond issued by the European Investment Bank earlier this week was actually a trial of a European central bank digital currency. A Thursday announcement from France’s central bank, Banque de France, revealed the digital bond was settled using a CBDC on a blockchain. The two year-bond was issued on the Ethereum public blockchain on Tuesday and settled the following day, with a maturity date of April 28, 2023. The sale was led by Goldman Sachs, Santander and Societe Generale. “From a technological standpoint, the experiment required the development and deployment of smart contracts …

Ether (ETH) prices skyrocketed to a new all-time high on Wednesday on the back of positive news from the European Investment Bank. Ether has climbed to $2,709 early during trading in Asia on Wednesday, marking a new peak price for the asset, according to CoinGecko. The crypto metrics provider reports a gain of 7% over the past 24 hours, and 15.7% over the past seven days for the world’s second-largest digital asset by market capitalization. The move has pushed the ETH market cap to a record $312 billion. While there are a range of factors propelling Ether’s price, Reuters today …

The European Investment Bank, an international financial institution owned by European Union member states, is reportedly exploring blockchain technology for issuing digital bonds. According to a Tuesday Bloomberg report, the EIB has hired major global banks such as Goldman Sachs, Banco Santander and Société Générale to look at a potential deal involving a euro-denominated bond issued on a blockchain. Citing a person familiar with the matter, Bloomberg states that the EIB is planning to deploy blockchain technology for the registration and settlement of digital bonds. Investor meetings for the inaugural sale will reportedly start on Thursday and continue for several …

Bitcoin (BTC) slid under $55,000 on March 17 as United States treasury yields built on a comeback, which took them to their highest in over a year. BTC price stays firmly rangebound Data from Cointelegraph Markets Pro and TradingView showed further downward pressure for BTC/USD on Wednesday, compounding a comedown that began late on Sunday. While not plugging the week's lows at near $53,000, the latest dip to $54,425 on Bitstamp underscores Bitcoin's correction after hitting all-time highs of $61,700. The weakness came in tandem with the strength of U.S. bond yields, a classic drain on BTC performance. On-chain metrics …

The United States and other countries could “impose prohibitions” on Bitcoin (BTC) as part of “shocking” tax changes, investor Ray Dalio has warned. In his latest article on LinkedIn, Dalio — a recent convert to Bitcoin as an investment opportunity — laid out a stark future for U.S. investors. Dalio: Prepare for "shocking" tax changes With the onset of the coronavirus pandemic, bonds have become all but redundant for preserving wealth. In an attempt to claw back some of the huge amounts of debt created as its response, the U.S. government plans to raise taxes — and the impact could …

The price of Bitcoin (BTC) is struggling to break past $51,000 on March 8 as the U.S. Treasury yield is rising again, while the U.S. Dollar Index (DXY) is at the highest levels in over three months. The global stock market, including equities in the United States and Asia, has pulled back in tandem as the U.S. Senate's stimulus approval has sparked inflation fears. Why is Bitcoin dropping off of inflation fears? As Welt market analyst Holger Zschaepitz explained, the bond market turned into turmoil as the 10-year U.S. Treasury yield surged to 1.6% after the stimulus news broke. The …

The price of Bitcoin (BTC) has failed to break above the psychological $50,000 resistance going into the weekend and has dropped below the $48,000 level on March 6. Now traders are watching whether BTC/USD can break above the $50,000 level to resume the bull cycle. Conversely, a drop below the recent lows below $46,000 will likely open the door to new lower lows, which may then pose a threat to the bull run that has been in place for almost a year, at least in the short to medium term. Pseudonymous trader Rekt Capital pointed out similar price levels to …

The price of Bitcoin (BTC) is extending its slump below $49,000 on March 5 as the U.S. dollar index (DXY) reached the highest levels since November 2020. Meanwhile, the prospect of rising rates and a potential stock market top is putting downward pressure on equities and Bitcoin, causing the entire cryptocurrency market to pull back. Rising treasury yields — the biggest threat to Bitcoin? Bitcoin and risk-on assets, in general, have been heavily affected by rising 10-year treasury yield rates in the U.S. As a result, the global macro landscape has worsened. Kyle Davies, the CEO at Three Arrows Capital, …

This week's correction in the price of Bitcoin (BTC) showed that a market doesn’t go up in a straight line. Meanwhile, another topic has been gaining attention, namely the big rise in the 10-year yields of United States government bonds. In recent weeks, the 10-year Treasury yield of U.S. government bonds has surged 35% to a new high of 1.44%, the highest point since the cross-asset crash in March 2020. Treasury yield bounces from a 60-year low The 10-year Treasury yield has been accelerating massively in recent weeks, similar to the run-up to the economic downturns in 2000 and 2008. …

The world of non-fungible tokens is hot right now. William Shatner, Logan Paul and Lindsay Lohan are just some of the celebrities who have released their very own crypto collectibles — and recently released research shows NFT sales have reached a record-breaking $100 million in a 30-day period. NFTs come in all shapes and sizes, and Sync Network has been championing a brand-new asset class to the masses: CryptoBonds. They’re designed to deliver long-term incentives in the decentralized finance sector… and look good, too. Now, Sync Network has released a new range of CryptoBonds featuring never-before-seen artwork — introducing eight …

A platform says it is bringing a brand-new type of asset class to the DeFi sector: cryptobonds. Sync Network says cryptobonds are a new type of nonfungible token that is fully tradable — encouraging decentralized liquidity pools to be strengthened. Despite their name, they do not share anything common with traditional finance bonds, meaning that there is no debt obligation to the person who holds them. Instead, these instruments deliver proof of a long-term position in liquidity pools — and it’s hoped that this asset will make the core of DeFi more resilient as a result. Cryptobonds are established by …

The use of distributed ledger technology can bring efficiencies to many aspects of the lifecycle of financial products, from listing and issuing through to the settlement of trades. Singapore Exchange, or SGX, has announced a joint venture with investment firm Temasek to use DLT to streamline the issuance and trading of financial products listed on its platform. According to a Friday report from Nikkei Asia, this will initially consider bonds, funds and sustainable financial products, and it may be extended in the future to cover other asset classes such as equities. SGX has previously collaborated with Temasek and banking giant …