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Deployments · GS DAP · platform by Goldman Sachs

EIB digital bonds on GS DAPUpdated 28 Oct 2026

The European Investment Bank's euro digital bonds on Goldman Sachs' GS DAP platform. The first, Project Venus (November 2022), was the EIB's first euro digital bond on a private blockchain and the platform's first issue: a EUR 100 million two-year bond settled on the trade date, with the underwriters paying in a token representing central bank money supplied by the Banque de France and the Banque centrale du Luxembourg. It was listed in Luxembourg and matured in November 2024. A week before that, in the Eurosystem's trials, the EIB issued a second EUR 100 million bond on GS DAP, for five years, which is outstanding until November 2029.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 29 Nov 2024[3][4] — Project Venus matured in November 2024, but the EIB's November 2024 five-year bond on GS DAP remains outstanding until 22 November 2029. Set back to live-limited on the editor's decision 2026-10-15-govbonds-1. · Reviewed 14d ago

Assets
Debt security[1]
Two-year 2.507% EUR bond under Luxembourg law listed on the Luxembourg Stock Exchange
[2]
Experimental euro wholesale CBDC tokens from the Banque de France and Banque centrale du Luxembourg, made available intraday only
Networks
GS DAP Private, permissioned[1][2]
Securities ledger.
DL3S Private, permissioned[2]
Cash ledger for the experimental euro wholesale CBDC.
Use cases
Primary issuance[1]Delivery versus payment (DvP)[1][2]
Jurisdictions
Luxembourg

Participants

Likely relevant regulation

Assets

Metrics

  • €100mDigital bonds issued · as of Nov 2022[1]
  • €200mDigital bonds issued · as of Nov 2024[4]
    Project Venus (Nov 2022) plus the November 2024 five-year bond.

Timeline

  1. Happened 29 Nov 2024 · Retired · recorded 11 Oct 2026
    The bond reaches its scheduled maturity date.[1]
  2. Happened 29 Nov 2024 · Production milestone · recorded 15 Oct 2026
    Project Venus matures, but the November 2024 five-year bond keeps an EIB issue outstanding on GS DAP until November 2029.[3][4]
  3. Happened 22 Nov 2024 · Production milestone · recorded 15 Oct 2026
    The EIB issues a second bond on GS DAP, EUR 100 million for five years, settled same day against central bank money on the Banque de France's DL3S in the Eurosystem trials.[3][4]
  4. Happened 29 Nov 2022 · Launch · recorded 11 Oct 2026
    EIB prices and settles a EUR 100 million two-year digital bond on GS DAP, the platform's first issue.[1]

Sources

  1. [1]EIB innovates further with Project Venus, the first euro-denominated digital bond on a private blockchain — European Investment Bank, 29 Nov 2022. Accessed 11 Oct 2026.B
  2. [2]Project Venus — Banque de France, 25 Jun 2024. Accessed 14 Oct 2026.A
  3. [3]EIB sixth digital bond 'completes contribution' to wholesale CBDC trials — Global Government Finance, 28 Nov 2024. Accessed 15 Oct 2026.C
  4. [4]Tokenisation in Finance - Different perspectives — European Investment Bank (ECB Bond Market Contact Group), 4 Mar 2026. Accessed 15 Oct 2026. EIB timeline of its digital bond issues, 2021 to 2024..B
  5. [5]Clifford Chance advises the EIB on its issuance of digital bonds on GS DAP as part of the Eurosystem Exploratory Work — Clifford Chance, Nov 2024. Accessed 28 Oct 2026. Gives the 2.545% coupon and names Goldman Sachs Bank Europe, DZ Bank and LBBW as joint lead managers and A&O Shearman as their counsel..C
  6. [6]Linklaters advises BNY on the EIB's sixth digital bond issuance — Linklaters, 27 Nov 2024. Accessed 28 Oct 2026.C
  7. [7]EIB issues €100mn digital bond with France/Lux central banks and BNY/Goldman — Finadium, 28 Nov 2024. Accessed 28 Oct 2026.C

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