Lamar Olive Oil’s EUROc stablecoin bond will take advantage of the trust of both blockchain technology and EU regulation.
Lamar Olive Oil issued a EUROc denominated bond on Obligate, a platform made for secure debt control for businesses
This is the first time a company in the sustainable agricultural industry has used crypto bonds to its advantage.
French agricultural firm Lamar Olive Oil has successfully issued an on-chain bond on the Switzerland-based DeFi platform Obligate, marking a notable development in business financing models using crypto:
At @obligatecom we are committed to closing the trade finance gap by combining blockchain technology and the bond markets’ trusted legal framework. 🚀🚀🚀
🔥 Big shout out to our fantastic team, and our partners for making this happen !!✨🫒@CredoraPlatform @circle @MembraneFi https://t.co/DSDtSYHmwv
— Obligate (@obligatecom) June 1, 2023
This bond issuance is denominated in Membrane Finance’s EUROe, an EU-regulated cryptocurrency stablecoin. Obligate’s credit rating partner, Credora, managed the entire process from underwriting and structuring the bond to conducting credit evaluation and ongoing risk monitoring.
Polygon-based Obligate provides a secure mechanism to issue, track and settle debt for small and medium-sized enterprises. Breaking away from traditional bond issuance processes, Obligate utilizes smart contracts to replace the roles of an issuer and paying agent within the bond issuance settlement layer, opening up new financing possibilities for businesses in developing and emerging markets.
EUROe was first launched in February 2023, by Membrane Finance as the first EU-regulated euro stablecoin. “Individuals, businesses, and governments can use EUROe while avoiding the risks and complexities of converting and paying in volatile cryptocurrencies,” the announcement read, allowing virtually free instant payments without the inherent risk crypto transactions could bring.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source : CryptoBriefing