Digital bond issuances in 2026 have already reached €6.4 billion ($7.2bn), 30% above the full year total for 2025, according to AFME’s latest progress report on DLT adoption in capital markets.
In 2025, Asian bond issuance values exceeded European ones by four to one, with that ratio dropping to three to one so far this year. Asia’s figures are dominated by a small number of substantial issues from the Hong Kong SAR and other state backed institutions. This week’s €1.7 billion Luxembourg issuance, which was not included in the figures, will help close the gap a little, bringing Asian issuances to around 38% above Europe’s based on AFME’s data.
One notable piece of analysis looks at yield curves for a small sample of bonds, hinting that DLT bond yields sit in the mid to lower range compared to conventional bonds. While useful, the sample may be too small to be statistically significant.
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