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The European Investment Bank (EIB) has issued a blockchain-based digital bond powered by environmentally-incentivised node infrastructure, reports Cointelegraph.

An announcement from the financial institution outlined the key points of a “digital native green bond” denominated in Swedish krona. The 1 billion krona bond is set to offer a 3.638% fixed rate over two years to institutional investors.

The Climate Awareness Bond is also being touted as the first blockchain-based bond to be registered on the Luxembourg Stock Exchange Securities Official List and displayed on the Luxembourg Green Exchange.

The bond will operate on the recently launched sustainable blockchain digital bond platform So|bond. As Cointelegraph previously reported, the platform allows issuing, trading and settlement of digital bonds using pro-environmental incentives for its node operators.

So|bond’s “Proof of Climate awaReness” protocol incentivizes nodes to reduce the environmental impact of their infrastructure. This is done by remunerating nodes according to a formula linked to their climate impact, with lower impact ratings resulting in higher rewards.

French-based IT provider Finaxys developed the protocol, while So|bond itself is a joint project operated by Skandinaviska Enskilda Banken (SEB) and Credit Agricole.

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