Turkey's first blockchain-based digital bond issuance from İş Bankası

Turkey's İş Bankası became the first bank in Turkey to issue a digital bond worth 100 million US Dollars, using blockchain technology, as an investor of the International Finance Corporation (IFC).

The Eurobond issued using Euroclear's Digital Financial Market Platform (D-FMI) will be used to finance individuals, farmers, and micro and small enterprises affected by the earthquake disasters that occurred in our country on February 6, 2023. Citigroup Global Markets and Citibank London Branch acted as dealer and agent banks in the transaction.

The bond referred to as "Digitally Native Note" ( was issued using Distributed Ledger Technology )DLT(. This technology enables secure and decentralized record-keeping, facilitating the issuance and exchange of bonds. As a result, the exchange of the issued Eurobond was also completed on the same day the transaction was priced.

The first Eurobond issuance using blockchain technology by a private bank in Turkey and an emerging market.

İş Bankası General Manager Hakan Aran, in his evaluation regarding the subject, emphasized their satisfaction in realizing the first digital Eurobond issuance by a private bank in Turkey and emerging markets in 2025, the year they step into their second century, stating the following:

"The international financial market access power of the Turkish banking sector, its level of development, and its rapid adaptation to new technologies is confirmed by this transaction, which once again highlights İş Bankası's pioneering role in implementing new technologies worldwide. I find this export valuable as an example of the use of blockchain technology in capital market transactions. We are also proud to play a leading role in the diversification of financial market instruments with continuously evolving technologies. In addition to the technology on which the transaction is based, the fact that the resources obtained will be used by producers in the earthquake-affected regions is another key factor that increases the importance of the transaction."

IFC General Manager Makhtar Diop also stated the following:

"This investment represents a significant milestone in the field of financial innovation and qualifies as Turkey's first digital bond. The bond in question, issued on a blockchain platform, will help businesses affected by the earthquake in Turkey access financing. This transaction makes financing more accessible by utilizing new digital technologies in the bond market and directs critical capital to those in greatest need, supporting the reconstruction and recovery processes of the earthquake-affected region."

Published: July 2, 2025 20:19