LINARI LAW

Luxembourg issues first digital treasury certificates on blockchain

On June 16, 2025, Luxembourg’s State Treasury took a major step in its digital finance journey by issuing its first-ever Digital Treasury Certificates (DTCs), totaling EUR 50 million. These six-month, zero-coupon instruments were priced at 99.030% and will be redeemed at par upon maturity.

This groundbreaking transaction showcases the practical implementation of Luxembourg’s advanced legal framework for distributed ledger technologies (DLT). Entirely executed via a  digital platform, the issuance underscores the government’s commitment to modernizing public debt instruments and enhancing efficiency, transparency, and trust in financial markets.

The initiative is part of a broader ambition to build scalable frameworks for digital debt issuance and expand Luxembourg’s expertise in this field. More tokenized issuances will surely follow as the country continues to advance its digital finance roadmap.

Thanks to a clear and supportive regulatory environment, Luxembourg is increasingly seen as a hub for fintech and DLT experimentation. Its legal certainty around blockchain-based securities makes it a compelling jurisdiction for innovation in capital markets.

This transaction offers valuable insights for professionals working in capital markets, fintech, and blockchain finance. It confirms that tokenized sovereign debt is not only legally viable under Luxembourg law but also commercially attractive.

If you’re interested in blockchain-based financing or tokenized securities, our legal team is here to help. Don’t hesitate to contact us or subscribe to our newsletter for updates and insights.

PREVIOUS NEXT

Related posts

Browse All

Luxembourg adopts DAC 8 law to tackle crypto tax evasion

Luxembourg has adopted DAC 8 to strengthen tax transparency in the cryptocurrency sector. From 2026, crypto exchanges must report detailed user transaction data to tax authorities. The directive aligns with the EU’s broader effort to combat tax evasion and integrate crypto into existing reporting systems. This reform reinforces Luxembourg’s role…

Luxembourg Supreme Court clarifies end date of redeployment compensation rights

The Luxembourg Supreme Court ruled that redeployment compensation must continue until the actual termination date of the employment contract, not merely the statutory notice period. The case highlights the importance of assessing whether contractual extensions, including collective or company agreements, effectively prolong the employment relationship. The Court criticised the lower…

Legal 500 – Rankings Announcement

Linari Law Firm has been recognised in the latest Legal 500 Europe rankings across key practice areas. The firm is ranked in Banking, Finance and Capital Markets, confirming its strong expertise and consistent service quality. It has also earned recognition in Investment Funds, reflecting its growing capabilities in this specialised…

Luxembourg court of appeal cancels EUR 746 million CNPD fine against Amazon

The Luxembourg administrative court of appeal has annulled the €746 million GDPR fine imposed on Amazon by the CNPD. The decision was based on insufficient reasoning regarding the nature, seriousness, and proportionality of the alleged infringement. The court emphasized the need for supervisory authorities to justify sanctions with clear and…

Luxembourg Real Estate Market 2026: Signs of Stabilisation and Select Opportunities

The Luxembourg real estate market is entering a phase of stabilisation after a period of correction driven by rising interest rates and tighter financing conditions. While transaction volumes slowed between 2023 and early 2025, activity is gradually resuming as interest rates level off. Structural housing shortages and continued population growth…

The Luxembourg progressive pension scheme

As of 1 January 2026, Luxembourg has introduced a progressive pension scheme allowing employees nearing retirement to gradually reduce their working time while receiving partial pension benefits. Access to the scheme requires employer consent and compliance with specific eligibility conditions, including a minimum reduction of working hours and entitlement to…
Browse All

A LEGACY OF LAW. A FUTURE OF INNOVATION.
25 years of legal excellence – the journey continues.

Contact Info

+352 27 11 60 10

UP