German State Bank Embraces Crypto: Blockchain-Backed Digital Bonds on the Horizon

• German state-owned bank Kreditanstalt für Wiederaufbau (KfW) is set to launch its first blockchain-based digital bonds, marking a significant stride towards the adoption of blockchain technology in traditional financial institutions.
• The blockchain-based digital bond will be issued as a crypto security, adhering to the German Electronic Securities Act (eWpG).
• This move follows similar initiatives by other major institutions like France’s Societe Generale and HSBC, as well as the City of Quincy in the U.S.

Germany’s KfW bank is set to introduce blockchain-backed digital bonds, marking a significant step towards the integration of blockchain technology in traditional finance. The bond, which adheres to the German Electronic Securities Act, will be issued as a crypto security.

German Digital Bond Set to be Completed in Summer 2024

The bond is expected to be finalized between June and September 2024, with payments processed through conventional systems. Union Investment has been secured as a key anchor investor, bringing valuable experience with crypto securities to the tr... Read the full article for FREE at COINOTAG!