Luxembourg placed a EUR 1.7 billion ten-year sovereign bond on October 14, 2026, natively issued on Clearstream’s D7 blockchain platform through LuxCSD. The issuance, bearing a 3.70% coupon, attracted EUR 3.1 billion in demand, compared with only tens of millions of euros in previous experiments. The bond is denominated in euros, governed by Luxembourg law and listed on the Luxembourg Stock Exchange. It will also be accepted as collateral in Eurosystem credit operations, allowing banks to use it to obtain refinancing from the European Central Bank. This is the first sovereign bond issuance of this magnitude by a European country to be natively based on a blockchain.
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