Banks and Blockchain Bonds: an analysis of the European Market and some future research directions

The adoption of the Distributed Ledger Technologies (Dlts) for bonds issuance and trading is a key innovation in European capital markets, supported by regulatory initiatives and new digital infrastructures. The article examines the blockchain applications of European banks in bond markets between 2017 and 2024, analyzing the momentum generated by regulatory and institutional experimentation and the involvement of key stakeholders, such as Central Banks, multilateral development banks and FinTech companies. Through an exploratory analysis of the main case studies, the work provides a useful framework to guide future empirical research and the development of innovation governance models in financial institutions.