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<p>Emergence of blockchain technology has disrupted a number of economic sectors, particularly financial institutions, with significant effects on their operations. This paper investigates the impact of asset tokenization on the issuance and trading process of financial assets, specifically bonds. It examines the effect of tokenizing the High Yield Bond on the Ethereum blockchain across two key dimensions: On costs, a comparative cost–benefit analysis is conducted before and after tokenization, and on green sustainability, through a comparative analysis on the carbon footprint of the bond before and after Ethereum’s merge to proof of stake. The results show that Tokenization improves cost-savings, and it promotes a greener, more sustainable approach when using the Ethereum blockchain post-transition to proof of stake.</p>

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The impact of tokenization on the trading process costs and carbon emission: Empirical study on the ODDO BHF Bond

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2026年1月29日

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  • Sina Belkhiria,
  • Eya Abid,
  • Wided Khiari

摘要

Emergence of blockchain technology has disrupted a number of economic sectors, particularly financial institutions, with significant effects on their operations. This paper investigates the impact of asset tokenization on the issuance and trading process of financial assets, specifically bonds. It examines the effect of tokenizing the High Yield Bond on the Ethereum blockchain across two key dimensions: On costs, a comparative cost–benefit analysis is conducted before and after tokenization, and on green sustainability, through a comparative analysis on the carbon footprint of the bond before and after Ethereum’s merge to proof of stake. The results show that Tokenization improves cost-savings, and it promotes a greener, more sustainable approach when using the Ethereum blockchain post-transition to proof of stake.