Industrial giant Siemens issues a €60 million digital bond on the blockchain and Europe issues another million digital bonds
The largest industrial manufacturer in Europe announces that it has become one of the first companies in Germany to issue digital bonds in accordance with the country’s Electronic Securities Act, which comes into force in June 2021. If we go by media reports, we obtain that the €60 million bond ($64 million) has a maturity of 1 year and is based on a public blockchain by Polygon. In making the Saudi announcement on Tuesday, c-means emphasized some of the advantages of employing a blockchain platform over traditional methods. For example, it introduces a global certificate based on paper and the redundancy of central clearing, and allows bonds to be sold directly to investors without the need for a bank to act as an arbitrage for what should and should not be high. can be sold to. Peter Rathgeb, Corporate Treasurer, Siemens AG, explained here that we are able to process transactions faster, more efficiently and seamlessly than when issuing bonds in the past, before securities were issued and before paper-based public blockchains moved to the public blockchain. may be able to perform.
Siemens explains that Germany’s Electronic Security Act allows the organization to conduct digital marketing based on blockchain and that it has sent securities directly to investors without involving the newly established central securities depository.
According to the press ad “As the digital euro was not available at the time of the transaction, the payment was made using classic methods and Hauck Aufhauser Lampe Privatbank AG acted as the bond registrar for the transaction and was held within 2 days.” This was completed while Union Investment, Dekabank and DZ Bank invested in the bond.” According to Peter Rathgeb “Thanks to our successful cooperation with our project partners we do and we have managed to reach an important milestone in the development of digital securities in Germany. Thanks to our successful cooperation with our project partners in January, we have reached an important milestone in the development of digital securities in Germany,” Peter Rathgeb also added that the corporation will remain actively involved in their development and With their innovative products and technology Siemens supports the digital transformation of their customers with great success and therefore it is only logical that we use the latest digital solutions in finance that have been tested. We need to successfully issue bonds based on blockchain. We are proud to be the first German company to have a blockchain and this further proves Siemens as a leading center in the ongoing development of digital solutions for the capital and securities markets. Europe has not yet regulated the blockchain space comprehensively and In 2022, Brussels and the leading institutions of the member states reached agreement on the latest Markets in Crypto Assets (Mica) law of the European Union. The EU Crypto Assets is expected to enter into force in 2023 but when the shadow has to comply There will be another 12 to 18 months to go and a digital euro is currently under development.
