Siemens Issues Its First Digital Bond on Blockchain

German industry giant Siemens announced its first digital bond, which is worth €60m, has a maturity of one year and is underpinned by a public blockchain. Siemens said it's one of the first companies in Germany to issue a digital bond.

Ralf P. Thomas, Chief Financial Officer of Siemens, said, "with our innovative products and technologies, Siemens supports the digital transformation of its customers with great success. It is therefore only logical that we test and utilize the latest digital solutions in finance, too. We are proud to be one of the first German companies to have successfully issued a blockchain-based bond. This makes Siemens a pioneer in the ongoing development of digital solutions for the capital and securities markets."

The digital bond will be sold directly to investors without engaging established central securities depositories.

Source

Traditional Industry

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