EIB 发行 1 亿欧元数字债券，以批发 CBDC 结算

欧洲投资银行 (EIB) 发行了第五支数字债券：1 亿欧元（1.056 亿美元）的固定利率三年期债券，以批发央行数字货币 (CBDC) 结算，作为整个欧洲正在进行的 CBDC 试验的一部分欧洲联盟。

European Investment Bank Issues €100M Digital Bond to Settle in Wholesale CBDC

欧洲投资银行发行 1 亿欧元数字债券以批发 CBDC 结算

The European Investment Bank (EIB) has issued its fifth digital bond: a €100 million ($105.6 million) fixed-rate three-year bond that settles in a wholesale central bank digital currency (CBDC) as part of the ongoing CBDC trials across the European Union.

欧洲投资银行 (EIB) 发行了第五支数字债券：1 亿欧元（1.056 亿美元）的固定利率三年期债券，以批发央行数字货币 (CBDC) 结算，作为整个欧洲正在进行的 CBDC 试验的一部分欧洲联盟。

The bond was issued on the Digital Assets Platform, a tokenization platform owned by Goldman Sachs, and is the first to be settled in a wholesale CBDC. The pilot wCBDC tokens were issued by the Banque de France through its D3LS platform, which is being used to test the interoperability of wholesale CBDCs with existing financial networks.

该债券在高盛旗下的数字资产平台上发行，是首个以批发 CBDC 结算的债券。试点 wCBDC 代币由法兰西银行通过其 D3LS 平台发行，该平台用于测试批发 CBDC 与现有金融网络的互操作性。

EIB's use of D3LS comes days after state-owned French bank Caisse des Dépôts settled a $108 million digital bond through wCBDC tokens issued through D3LS.

欧洲投资银行使用 D3LS 几天前，法国国有银行 Caisse des Dépôts 通过 D3LS 发行的 wCBDC 代币结算了 1.08 亿美元的数字债券。

Banque de France remains the European leader in using wCBDC for digital bonds. Its peers, such as Germany and Italy, have opted for customized solutions, such as Trigger for the Deutsche Bundesbank.

法兰西银行仍然是使用 wCBDC 进行数字债券的欧洲领导者。德国和意大利等同行选择了定制解决方案，例如德意志联邦银行的 Trigger。

As Banque de France's Emmanuelle Assouan noted in her comments, one key advantage of the wCBDC over other solutions is that it eliminates counterparty risk through atomic settlements.

正如法兰西银行的 Emmanuelle Assouan 在评论中指出的那样，wCBDC 相对于其他解决方案的一个关键优势是，它通过原子结算消除了交易对手风险。

EIB's bond was also the first to be issued on Orion, the tokenization and digital assets platform by HSBC (NYSE:HSBC). Orion, a permissioned blockchain solution, has gained popularity with many banks across Europe and Asia for issuing digital bonds. HSBC, UBS, SBI (NASDAQ:SBHGF), Germany's WIBank, and more have launched digital bonds on Orion.

EIB 的债券也是在汇丰银行（纽约证券交易所股票代码：HSBC）的代币化和数字资产平台 Orion 上发行的首张债券。 Orion 是一种经过许可的区块链解决方案，因发行数字债券而受到欧洲和亚洲许多银行的欢迎。汇丰银行、瑞银集团、SBI（纳斯达克股票代码：SBHGF）、德国 WIBank 等都已在 Orion 上推出了数字债券。

“The new EIB blockchain bond is a major step forward in our drive to modernize capital markets and harness innovative technologies in finance,” commented Cyril Rousseau, EIB's Director of General Finance.

欧洲投资银行总财务总监西里尔·卢梭 (Cyril Rousseau) 评论道：“新的欧洲投资银行区块链债券是我们推动资本市场现代化和利用金融创新技术的重要一步。”

The issuance also involved Europe's largest bank, BNP Paribas (OTC:BNPQY), the U.K,'s NatWest (NYSE:RBSPF), and the French subsidiary of HSBC as joint lead managers. London-based multinational law firm Clifford Chance advised the EIB on the issuance.

此次发行还涉及欧洲最大的银行法国巴黎银行（场外交易代码：BNPQY）、英国国民西敏寺银行（纽约证券交易所代码：RBSPF）以及汇丰银行法国子公司作为联席牵头经办人。总部位于伦敦的跨国律师事务所高伟绅律师事务所就此次发行向欧洲投资银行提供了咨询服务。

Steve Jacoby, a partner at the law firm, noted that the expansion of EIB's digital bonds projects shows the “continued strong interest of market participants in digital capital markets transactions.”

该律师事务所合伙人史蒂夫·雅各比指出，欧洲投资银行数字债券项目的扩张表明“市场参与者对数字资本市场交易的持续浓厚兴趣”。

SBI, UBS automate tokenized fund management

SBI、瑞银自动化代币化基金管理

In Singapore, two of the world's largest banks have completed the implementation of a tokenized fund that demonstrated how smart contracts can automate asset management.

在新加坡，全球最大的两家银行已经完成了代币化基金的实施，该基金展示了智能合约如何实现资产管理自动化。

The pilot was part of Project Guardian, a tokenization and digital asset initiative by the Monetary Authority of Singapore (MAS). This is not the first tokenization project between the Japanese and Swiss banks; a week ago, they issued a tokenized fund accessible through authorized distribution partners to accredited investors.

该试点是新加坡金融管理局（MAS）发起的代币化和数字资产计划 Project Guardian 的一部分。这并不是日本和瑞士银行之间的第一个代币化项目；一周前，他们通过授权分销合作伙伴向合格投资者发行了代币化基金。

In their latest project, the two sought to prove that implementing an ‘onchain format’ in the fund administration industry can unlock efficiencies and cut costs. They limited the scope of their project to integrating existing fund management systems with tokenized funds “once they are made compatible with blockchains and smart contracts.”

在他们最新的项目中，两人试图证明在基金管理行业实施“链上模式”可以提高效率并降低成本。他们将项目范围限制为“一旦与区块链和智能合约兼容”，即可将现有的基金管理系统与代币化基金相集成。

Citing a study from automation firm Quantios, the banks noted that 93% of fund managers have yet to fully automate even the most basic processes. This results in consistent manual interventions, delayed settlements, and a lack of transparency for investors.

银行援引自动化公司 Quantios 的一项研究指出，93% 的基金经理甚至还没有完全实现最基本的流程自动化。这导致持续的人工干预、延迟结算以及投资者缺乏透明度。

Their pilot concluded that blockchain, tokenization, and smart contracts could resolve this. Benefits included fewer errors or manual interventions—saving time and costs—and enhanced efficiencies. Investors also enjoyed higher levels of transparency.

他们的试点得出的结论是，区块链、代币化和智能合约可以解决这个问题。好处包括减少错误或人工干预（节省时间和成本）以及提高效率。投资者还享有更高水平的透明度。

The solution is currently active on testnets on multiple blockchains and is expected to transition to mainnets over the next few weeks.

该解决方案目前在多个区块链的测试网上活跃，预计将在未来几周内过渡到主网。

“This new way of launching fund structures and administering them via smart contracts empowers both fund managers and their service providers to deliver new onchain financial products and lower operational costs to investors, both things they are actively looking for,” commented SBI's Winston Quek.

SBI 的 Winston Quek 评论道：“这种推出基金结构并通过智能合约对其进行管理的新方式使基金经理及其服务提供商能够向投资者提供新的链上金融产品并降低运营成本，而这正是他们正在积极寻求的。”

The pilot is the latest to prove the transformative impact that tokenization can deliver in the financial sector. However, as each financial institution races to become the industry leader, the risk of siloed and limited solutions threatens progress. The two banks, for instance, have their own tokenization platforms: SBI has its Digital Markets subsidiary, while UBS Tokenize is the Swiss bank's in-house tokenization service.

该试点是证明代币化可以在金融领域带来变革性影响的最新试点。然而，随着每个金融机构竞相成为行业领导者，孤立和有限的解决方案的风险威胁着进步。例如，这两家银行都有自己的代币化平台：SBI 拥有其数字市场子公司，而 UBS Tokenize 是这家瑞士银行的内部代币化服务。

EIB, which launched its €100 million digital bond on HSBC Orion, has used four different platforms for its five bonds from Societe Generale, HSBC, Goldman Sachs, and Credit Agricole (OTC:CRARY).

EIB 在 HSBC Orion 上发行了 1 亿欧元的数字债券，并使用了法国兴业银行、汇丰银行、高盛和法国农业信贷银行（场外交易代码：CRARY）的 5 种债券的四个不同平台。