Siemens issues €60M digital bond on a public blockchain
Siemens shared that the process of issuing digital bonds is much faster and more efficient than traditional bond-issuing methods. German engineering and Technology giant Siemens has become one of the first companies in Germany to issue a Digital bond on a public blockchain , worth €60 million, with a maturity of one year, in accordance with Germany’s Electronic Securities Act. According to the announcement, 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. Siemens noted that the process enabled transactions to be executed much faster and more efficiently than traditional bond-issuing methods. Siemens emphasized the benefits of using Digital bonds over traditional bond-issuing methods in its announcement. According to the company, “Issuing the bond on a blockchain offers a number of benefits compared to previous processes. For instance, it makes paper-based global cert...