Lamar Olive Oil's Innovative On-Chain Bond Issuance Using EUROe

by
Juuso Roinevirta
lamar

Change requires companies from all industries to embrace new technologies to stay competitive. Recently an established agribusiness that has been producing olive oil for over 70 years turned to blockchain-enabled bond financing to reduce the cost of debt. Membrane Finance’s EUROe is a critical component in safe & compliant financing. 

On 1 June 2023, Lamar Olive Oil, a French sustainable agriculture business, made headlines when they announced the issuance of an on-chain bond through Obligate, a Switzerland-based decentralised finance (DeFi) platform. Using EUROe, a MiCA-compliant euro-stablecoin issued by Membrane Finance, for bond issuance, Lamar Olive Oil pioneered an alternative way for SMEs to access financing beyond traditional capital markets. This approach not only enhanced operational efficiency but improved the cost of financing compared to traditional channels.

Lamar Olive Oil's on-chain bond issuance process was carried out utilising Obligate, a commercial paper & bond issuance platform and marketplace. The issuance was assigned a credit rating by Credora, Obligate’s blockchain-native privacy-preserving credit assessment partner. The use of Obligate’s smart contracts for the issuance of the bond not only ensured that investors could participate in the bond issuance safely and efficiently, cutting middlemen from the transaction but also increased transparency and accessibility.

By leveraging EUROe on a DeFi platform, the costs associated with issuing the bond were significantly reduced. Moreover, the bond issuance process, which typically takes 6-8 weeks in traditional settings, was conducted within just a couple of weeks. Using EUROe for bond issuance ensured compliance with financial regulation, along with best practices in documentation, taxation, and invoicing. EUROe, thanks to its native compatibility with multiple blockchains and smart contracts, enables innovative financial solutions that lower the barriers and costs of financing.

This bond issuance showcases the potential of combining sustainable agriculture, innovative financing solutions, and blockchain technology to create a more equitable, efficient, and technologically advanced future. Membrane Finance and the EUROe team are extremely proud to support innovative actors like Lamar Olive Oil in the sustainable agriculture sector.

Looking ahead, Membrane Finance is committed to enabling new business models in the agricultural sector and other traditional industries. If you are ready to leverage blockchain technology to access funding in a secure, compliant, and efficient way, we invite you to join us on this pioneering journey. Together, we can redefine the future of agricultural financing and foster a more inclusive, open, and vibrant agricultural economy.

Thank you to Lamar Olive Oil, Obligate, and Credora for leading the way towards a more innovative and sustainable future.

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