Logo
Cardano Ecosystem

Thecoinrise

last Thursday at 3:05 PM

·

9 views


Siemens Issues $330M Digital Bond on Blockchain in ECB Trial

🚀 Stay Ahead with AltcoinDaily.co! 🌐 German multinational Siemens AG has taken another major step in the adoption of blockchain technology by issuing a €300 million ($330 million) digital bond as part of...

Siemens Issues $330M Digital Bond on Blockchain in ECB Trial

🚀 Stay Ahead with AltcoinDaily.co! 🌐

German multinational Siemens AG has taken another major step in the adoption of blockchain technology by issuing a €300 million ($330 million) digital bond as part of the European Central Bank’s (ECB) ongoing trials. The bond was issued on blockchain rails, marking the company’s latest foray into the world of digital finance.

Several leading German financial institutions participated in this groundbreaking transaction, including BayernLB, DekaBank, DZ BANK, Helaba, and Landesbank Baden-Württemberg (LBBW). Deutsche Bank also played a crucial role by facilitating the settlement process.

Past Ventures

This is not Siemens’ first venture into blockchain-based bond issuance. The industrial giant previously issued a €60 million bond via the Polygon blockchain in 2022. However, that transaction took two days to settle, whereas this latest issuance highlights the significant advancements in blockchain technology.

  🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

According to Siemens, this recent bond transaction was processed within minutes, illustrating the potential for blockchain to streamline and accelerate financial operations.

Peter Rathgeb, Corporate Treasurer of Siemens, commented on the achievement, stating, “Automated processing within a few minutes shows the enormous potential of this new technology and confirms our strategy of playing a leading role in continuously shaping the digital transformation.” The bond issuance was settled via SWIAT, a private, permissioned blockchain platform.

TradFi’s Rising Interest

Siemens’ venture is part of a broader trend of traditional financial institutions exploring the tokenization of real-world assets (RWAs), such as bonds and other credit instruments. Tokenization offers significant benefits, including faster and more transparent settlement processes, reduced costs, and increased operational efficiency.

 🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

In a similar vein, the German development bank KfW recently partnered with Boerse Stuttgart Digital to prepare for a digital bond issuance, while Italy’s state-owned bank, Cassa Depositi e Prestiti, also completed a digital bond issuance on the Polygon network earlier this year as part of the ECB’s trials.

Additionally, Landesbank Baden-Württemberg (LBBW), Germany’s largest federal bank, is set to roll out cryptocurrency custody services by the end of 2024. The bank is partnering with Austria’s Bitpanda exchange to meet the rising demand for digital asset services among institutional investors.

 🔍 Your Crypto News Hub: AltcoinDaily.co! 🌐

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on Thecoinrise

ORIGINAL SOURCE

https://thecoinrise.com/siemens-issues-3...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Thecoinrise

See more
Caroline Ellison Seeks Leniency Ahead of Sentencing in FTX Collapse
Thecoinrise
Caroline Ellison Seeks Leniency Ahead of Sentencing in FTX Collapse

today at 12:35 PM

·

2 views

Related News

See more
Cardano Summit 2024

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)