Siemens issues its first digital bond on blockchain

Key Points: Siemens is the latest company to venture into the world digital assets. It has issued a EUR60million, one-year bond on blockchain.
Blockchain assets are directly issued to investors. This eliminates the need for middlemen and reduces the cost of the asset.
The offering was arranged by Hauck Aufhauser Lampe Privatbank who served as the bond registrar and provided the digital asset custody solution. Union Investment, DZ Bank, DekaBank purchased the bond.
Siemens, a German industrial giant, has revealed its first digital bond. It is backed by a public Blockchain and is valued at EUR60m with a one year maturity. According to Siemens, it is the first company in Germany to issue a digital bonds.
“Simons supports the digital transformation of its customers through innovative products and technologies. Therefore, it is only natural that we also test and use the most recent digital solutions in finance. We are proud to have been one of the first German companies that successfully issued a blockchain-based bonds. Siemens is a leader in the development of digital solutions to capital and securities markets.
There are many benefits to issuing a bond on a blockchain over previous procedures. It eliminates the need to have central clearance and paper certifications worldwide. Investors can also purchase the digital bond directly without the need for a bank intermediary. The digital bond cannot be used to buy securities from central securities depositories that are not recognized by the government. Hauck Aufhauser Lampe Privatbank AG was the bond registrar. DekaBank, DZ Bank and Union Investment purchased the bond. Hauck Aufhauser Lampe Privatbank AG was the bond registrar for the transaction. The digital euro was not yet available at time of transaction so payments were made using conventional methods. The deal could be completed within two days. We encourage you to do your research before investing.Join us to keep track of news: NewsTags: BlockchainDigital BondSiemens