The EURxb Token
The EURxb token is a real-world implementation of a bond on a blockchain, providing tangible benefits to the issuer and buyers.
The EURxb structure, allows any issuer of corporate bonds to tokenise that debt, and then to benefit from the features of those tokens. These benefits relate both to the issue and trading of the bond tokens, and also to the use of derivatives of the tokenised bonds in Decentralised Finance.
The first issuer of a corporate bond using this approach is MIRIS AS, a Norwegian domiciled sustainable property developer. MIRIS uses technology to turn buildings into net producers (rather than users) of energy. Established in 2003, MIRIS has evolved from a traditional real estate company to a sustainable technology incubator, and has a AA rating from Dun & Bradstreet. MIRIS operates in Norway and both their sustainability rating and financial status are published online and objectively measured by 3rd parties. Some MIRIS projects have been funded by Green Bonds listed on the MirisX platform. The green finance framework used by MIRIS is verified by Cicero, an independent third-party which is Norway’s leading climate research body. Cicero certifies that all funds will be used in ways that benefit the environment. These Green Bonds laid the foundation for the Senior Secured Green Bond that is now being tokenised with EURxb, and describes the assets pledged by MIRIS as well as the ISIN registered bonds issued and taken up by the market.
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