Deployments · platform by Cassa Depositi e Prestiti

Cassa Depositi e Prestiti digital bond on Polygon (2024)New

Italy's first digital bond on a blockchain: Cassa Depositi e Prestiti issued EUR 25 million of four-month 3.633% notes on Polygon on 18 July 2024, under the 2023 Italian FinTech decree-law, with CDP itself acting as registrar. Intesa Sanpaolo bought the whole issue. Cash settled the same day in euro central bank money through the Banca d'Italia's TIPS Hash Link, in the Eurosystem's exploratory trials. The notes matured on 18 November 2024.

Inactive · matured or redeemed since 18 Nov 2024^[1]i — Single four-month trial issue that reached its scheduled maturity. · Reviewed 24d ago i

Assets

Debt security^[1]

Four-month 3.633% EUR notes of Italy's national promotional institution

Networks

Polygon Public, permissionless^[1]

Use cases i

Primary issuance^[1][2]Delivery versus payment (DvP)^[1][2]

Jurisdictions

Italy

Participants

• Cassa Depositi e PrestitiIssuer, Platform provider, Operator, Transfer agent or registrar^[1]Italy
• Intesa SanpaoloInvestor^[1][2][3]Italy
• Banca d'ItaliaCash leg provider^[2]Italy

Likely relevant regulation i

• Central Securities Depositories Regulation (CSDR), Regulation (EU) No 909/2014European Union
• EU DLT Pilot RegimeEuropean Union

Assets

• IssuesCassa Depositi e Prestiti EUR 25m 3.633% digital bond on Polygon, 2024^[1]

Moves across networks

• viaTIPS Hash-Link (Banca d'Italia)^[2]Cash leg settled in central bank money through TIPS Hash-Link.

Metrics i

• €25mDigital bonds issued · as of Jul 2024^[1]

Timeline

1. Happened 18 Nov 2024 · Retired · recorded 15 Oct 2026
   The notes reach their scheduled maturity.^[1]
2. Happened 18 Jul 2024 · Launch · recorded 15 Oct 2026
   CDP prices and settles EUR 25 million of digital notes on Polygon the same day, paid in central bank money through TIPS Hash Link; Intesa Sanpaolo takes the whole issue.^[1][2]

Sources i