Bitcoin
$ 47,290
Ethereum
$ 1,526.0
Litecoin
$ 177.93
okex ads

Europe’s Top Real Estate Company Taps Stellar Blockchain To Issue €20 Million Bond

Vonovia, a top real estate company in Europe that’s part of the DAX 30, is issuing a €20 million digital bond on the Stellar Blockchain in partnership with Firstwire and Bitbond, a press release on Jan 13 reveals. It comes less than three weeks after the German cabinet made into law a bill legalizing electronic securities.

A €20 Million Bond

In the statement, the real-estate firm said they are driving towards digitizing their finance division.

As part of that initiative, they are issuing a fully-registered €20 million bond with a three year-term. These tokens will follow the strictest security standards regarding the transfer of ownership of the bond.

This is the second time Vonovia is working with Firstwire. In September 2019, they issued a €50 million promissory note on the platform that brings together investors and bond issuers.

The move first highlights their belief in technology and the need to adapt to changes. It also heeds to call Germany’s leadership to digitize processes.

Aligning with Germany’s Blockchain Strategy

Following the approval of a bill meant to spur digitization and align their goals with Germany’s blockchain strategy, Vonovia is now leveraging blockchain technology and digitization to “finance themselves faster” via a platform offering better transparency.

Commenting, Helene von Roeder, the Chief Financial Officer (CFO) of Vonovia, said:

“We want to test out the new technology to gain experience with it. It’s easy to imagine that it will play a significant role in the future capital market. Issuances are transparent and traceable in real-time, which guarantees a professional transaction standard. Additionally, we can use it to approach new investors around the globe.”

The issuance of the security token has the potential to expand tokenization significantly and “structurally change the range of financial products and services,” especially from the investor’s perspective.

Stellar Network continues to register success. The Stellar Development Foundation is working with Ukraine’s Ministry of Digital Transformation to develop a digital asset ecosystem, including a central bank-backed digital currency (CBDC).

As per a report, Bankhaus von der Heydt (BVDH) said it will issue the Euro stablecoin on the Stellar Network in partnership with Bitbond.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Kingdom Entrepreneurship
February 26, 2021By
Blockchain Africa Conference 2021: Beyond the Hype, Announces Keynote Speakers
February 26, 2021By
Bitonic Seeks to Halt Dutch Regulator’s Crypto Wallet Verification Requirement
February 26, 2021By

Advertisement

Video Posts

In
Kingdom Entrepreneurship
February 26, 20210
In
How Blockchain And Digital Assets Can Be Used Commercially
February 24, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin47,290 1.69 % 7.22 % 8.59 %
Ethereum1,526.0 3.39 % 6.92 % 21.28 %
Cardano1.140 2.49 % 5.32 % 24.42 %
Binance Coin230.66 1.98 % 9.48 % 18.57 %
Tether1.000 0.22 % 0.38 % 0.09 %
Polkadot31.63 4.93 % 7.95 % 1.51 %
XRP0.4383 1.67 % 7.12 % 17.93 %
Litecoin177.93 3.23 % 10.48 % 21.74 %
Chainlink26.06 3.77 % 7.10 % 19.79 %
Bitcoin Cash492.19 2.03 % 9.30 % 30.20 %