Deployments · Euroclear Digital Securities Issuance (D-SI) · platform by Euroclear

Euroclear D-FMI digitally native notes (multi-issuer)Updated 28 Oct 2026

Euroclear's distributed ledger issuance service (D-SI on its D-FMI platform) issues digitally native notes that are then held and traded through Euroclear Bank's existing settlement system. Beyond the World Bank's first issue (recorded separately), Euroclear lists issues by Citi, Emirates NBD, Doha Bank, Akbank, Türkiye İş Bankası, the Asian Infrastructure Investment Bank and Caisse des Dépôts. The Caisse des Dépôts issue settled via the Banque de France's DL3S ledger. In August to October 2026 Standard Chartered (the first global systemically important bank on D-FMI), Hana Bank (the first Korean bank, listed on SGX) and First Abu Dhabi Bank (an AED 1 billion green note) followed.

Live (limited) since Oct 2023^[1]i — Several live issues from different issuers, each a one-off; Euroclear gives no aggregate total. · Reviewed 14d ago i

Assets

Debt securityStructured note^[1][3][4][5]

Bank notes from Emirates NBD, Doha Bank, Akbank, Isbank, Standard Chartered, Hana Bank and First Abu Dhabi Bank

^[1]

Citi digitally native structured note

^[1]

AIIB and Caisse des Dépôts notes

Networks

Euroclear D-FMI Private, permissioned^[1]

DL3S Private, permissioned^[1]

Cash leg of the Caisse des Dépôts issue

Use cases i

Primary issuance^[1]

Jurisdictions

Belgium, Luxembourg

Participants

• EuroclearPlatform provider, Operator, Depositary or trustee^[1]Belgium
• CitiIssuer, Paying or settlement agent, Distributor, Arranger or dealer^[1][6][5]United States
• Emirates NBDIssuer, Distributor, Arranger or dealer^[1][6][5]United Arab Emirates
• Doha BankIssuer^[1]Qatar
• AkbankIssuer^[1]Türkiye
• Türkiye İş BankasıIssuer^[1]Türkiye
• Asian Infrastructure Investment BankIssuer^[1]China
• Caisse des DepotsIssuer^[1]France
• International Finance CorporationInvestor^[1]United States
• Standard CharteredDistributor, Issuer, Arranger or dealer^{[1][3][4][6][5]}United Kingdom
• Hana BankIssuer^[4]South Korea
• First Abu Dhabi BankIssuer, Distributor, Arranger or dealer^[5][6]United Arab Emirates
• HSBCDistributor, Arranger or dealer^[5]United Kingdom
• ICBC (Asia)Distributor, Arranger or dealer^[5]Hong Kong
• BMODistributor, Arranger or dealer^[1]Canada
• BNP ParibasPaying or settlement agent^[1]France
• Crédit Agricole CIBDistributor, Arranger or dealer^[1]France
• NatixisDistributor, Arranger or dealer^[1]France
• Banque de FranceCash leg provider^[1]France
• MashreqDistributor, Arranger or dealer^[6]United Arab Emirates
• A&O ShearmanLegal or professional adviser^[5]United Kingdom

Likely relevant regulation i

• EU DLT Pilot RegimeEuropean Union

Assets

• IssuesAIIB USD 300m 4.0% digitally native note on Euroclear D-FMI, 2024^[1]
• IssuesCaisse des Dépôts EUR 100m digitally native note on Euroclear D-FMI, 2024^[1]
• Issuesİşbank USD 100m 5-year digitally native note on Euroclear D-FMI, 2025^[1]
• IssuesAkbank USD 100m 5-year digital gender bond on Euroclear D-FMI, 2025^[1]
• IssuesDoha Bank USD 150m floating-rate digitally native notes on Euroclear D-FMI, 2025^[1]
• IssuesEmirates NBD AED 1bn 3-year fixed-rate digitally native notes on Euroclear D-FMI, 2026^[1]
• IssuesCitigroup Global Markets Funding Luxembourg digitally native structured note on Euroclear D-FMI, 2026^[1]
• IssuesStandard Chartered USD 200m 3-year floating-rate digitally native notes on Euroclear D-FMI, 2026^[3]
• IssuesHana Bank USD 100m 5-year floating-rate digitally native notes on Euroclear D-FMI, 2026^[4]
• IssuesFirst Abu Dhabi Bank AED 1bn 5.75% 3-year digitally native green notes on Euroclear D-FMI, 2026^[5]

Moves across networks

• viaDL3S full DLT interoperability (Banque de France)Euroclear D-FMI ↔ DL3S^[1][2]Caisse des Dépôts issue only; first use of the D-FMI–DL3S link.

Metrics i

• 8 issuesIssues listed by Euroclear (including World Bank) · as of Oct 2026^[1]
• $950mUS dollar notes issued (excluding World Bank) · as of 23 Sep 2026^[1][3][4]
  Sum of the USD issues: AIIB 300m (Aug 2024), Isbank 100m (Jun 2025), Akbank 100m and Doha Bank 150m (Dec 2025), Standard Chartered 200m (Aug 2026), Hana Bank 100m (Sep 2026). Citi's structured note size not published. The register's totals take one figure per deployment, so this is the counted one; the dirham and euro issues are listed separately as context.
• AED 2bnUAE dirham notes issued · as of 15 Oct 2026context^[1][5]
  Emirates NBD AED 1bn (Jan 2026) and FAB AED 1bn digital green notes (Oct 2026). Shown as context only so the dollar total above stays the counted figure; not counted in totals.
• €100mEuro notes issued (excluding World Bank) · as of Nov 2024context^[1]
  Caisse des Dépôts EUR 100m (Nov 2024, Eurosystem trials). Context only, as for the dirham figure.

Timeline

1. Happened 15 Oct 2026 · Participant joined · recorded 17 Oct 2026
   First Abu Dhabi Bank settles AED 1 billion of 5.75% three-year green notes through D-FMI, the first digitally native green bond from the Middle East and North Africa.^[5]
2. Happened 23 Sep 2026 · Participant joined · recorded 17 Oct 2026
   Hana Bank issues USD 100 million of five-year floating-rate notes, the first by a Korean bank on D-FMI and the first digital bond listed on SGX, settling same day.^[4]
3. Happened 20 Aug 2026 · Participant joined · recorded 17 Oct 2026
   Standard Chartered issues USD 200 million of three-year floating-rate notes, the first issue on D-FMI by a global systemically important bank and by a UK issuer, and the first using a trustee structure.^[3]

Sources i