EddieJayonCrypto
7 May 24
German state-owned development bank Kreditanstalt für Wiederaufbau (KfW) is preparing to issue its first blockchain-based digital bond, aiming to streamline and increase efficiency in the bond issuance process. The digital bond will comply with the German Electronic Securities Act and is expected to...
German state-owned development bank Kreditanstalt für Wiederaufbau (KfW) is set to issue its first blockchain-based digital bond, embracing crypto technology in the financial sector to streamline the bond issuance process. The bond is anticipated to be €100 million and mature in December 2025, with discussions planned with European institutional investors. The bond issuance is facilitated by prominent financial institutions including DZ Bank, Deutsche Bank, LBBW, and Bankhaus Metzler, with Cashlink Technologies GmbH as the registrar for the crypto assets. KfW's move follows JPMorgan's recent foray into the crypto market, reflecting the increasing recognition of blockchain's potential to revolutionize traditional financial operations. KfW aims to leverage blockchain technology for increased efficiency and scalability in the bond issuance process. The successful implementation of this technology could transform the way crypto assets are issued and traded among traditional finance institutions. The cryptocurrency market is currently valued at $2.2 trillion, with Bitcoin trading at $63,200.
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