Germany’s Siemens issues €60-million digital bond on blockchain.
In an announcement, the corporation highlighted the benefits of using blockchain, including the opportunity for direct sale to investors.The largest industrial manufacturer in Europe, Siemens, announced it has become one of the first companies in Germany to issue a digital bond in accordance with the country’s Electronic Securities Act which came into force in June, 2021.
For instance, it makes paper-based global certificates and central clearing unnecessary. What’s more, the bond can be sold directly to investors without needing a bank to function as an intermediary. Germany’s Electronic Securities Act allows organizations to issue blockchain-based digital bonds, Siemens pointed out. It also said it has sold the securities directly to investors without engaging established central securities depositories.
“With our innovative products and technologies, Siemens supports the digital transformation of its customers with great success. It is therefore only logical that we test and utilize the latest digital solutions in finance,” added Ralf Thomas, the chief financial officer of Siemens.
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