Giant German Bank Uses This Altcoin’s Network for 100 Million Euro Bond Issuance
NRW BANK, the event financial institution owned by the German state of North Rhine-Westphalia, has issued €100 million price of blockchain-based bonds, making it one of many largest public sector strikes into digital securities in Europe.
The 2-year bond was issued on the Polygon (POL) blockchain and registered by way of the infrastructure of Cashlink Applied sciences, a cryptocurrency securities registrar licensed by Germany’s monetary regulator, BaFin.
That is NRW BANK’s first bond issuance as a completely digital, crypto safety underneath Germany’s Digital Securities Act (eWpG), which permits bonds to exist solely on the blockchain with out the necessity for bodily certificates.
Deutsche Financial institution, DZ BANK and DekaBank participated within the issuance as joint lead managers.
“This isn’t only a technical milestone; it’s an indication that public monetary establishments at the moment are prepared to maneuver past blockchain pilot initiatives and combine these techniques at scale,” mentioned Cashlink CEO Michael Duttlinger.
The eWpG regulation, which got here into power in 2021, supplied the authorized foundation for recording securities on distributed ledger applied sciences (DLT) in Germany, which has one of many largest capital markets.
*This isn’t funding recommendation.
