Macro guru Raoul Pal says a new milestone for Ethereum demonstrates the platform’s ability to command the crypto and financial sectors.
The Real Vision founder highlights news that the European Investment Bank (EIB) is launching €100 million in digital bonds on the Ethereum blockchain.
The EIB, the lending arm of the European Union, is tapping Ethereum’s distributed ledger technology for the registration and settlement of the digital bonds, according to a press release from the bank, which is collaborating with Goldman Sachs, Santander and Societe Generale.
Pal says the development shows the flexibility and dominance of the Ethereum network.
“It is a test that tacitly accepts that crypto offers better settlement, custody and transfer for the global bond market. Something I have talked about for a decade… in the end, all securities of all types will migrate across to public blockchains.
Also, it just show how massively dominant ETH currently is for use cases.”
The EIB will issue