Italy's Cassa Depositi e Prestiti Spa (CDP) has issued a €25 million digital bond on the Polygon public blockchain, underwritten by Intesa Sanpaolo as the sole investor. The offering is part of the European Central Bank's (ECB) wholesale DLT settlement trial. As a result, payments were made in central bank currency using the Bank of Italy's TIPS Hash Link solution, which provides a connection between the DLT and TARGET2 systems for wholesale payments. CDP is a development bank controlled by the Ministry of Economy and Finance. Fabio Massoli, director of administration, finance, control and sustainability at CDP, said: "This transaction represents a significant step in CDP's innovation in capital markets by pioneering the use of blockchain technology in bond offerings."