Siemens becomes the first company to issue digital bonds in a public blockchain. “By moving away from paper and toward public blockchains for issuing securities, we can execute transactions significantly faster,' said the firm's treasurer.
German engineering and technology giant Siemens has become one of the first companies in Germany to issue a digital bond on a public blockchain. It’s worth 60 million euros and has a maturity of one year, in accordance with Germany’s Electronic Securities Act., the bond was sold directly to investors such as DekaBank, DZ Bank, and Union Investment, without the need for central clearing and paper-based global certificates.
Although the transaction was completed using classic payment methods because the digital euro was not yet available at the time of the transaction, it was still completed in just two days. Siemens aspires to position itself as a pioneer in the ongoing development of digital solutions for the capital and securities markets.
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