Siemens has issued a €300 million digital bond, marking the second time it has used blockchain technology to streamline securities transactions under Germany’s electronic securities law.
German multinational technology conglomerate Siemens has launched its second digital bond, worth €300 million on a blockchain, under the German Electronic Securities Act, in a bid to expand its expertise in the distributed ledger market.
In a September 4 press release, the Munich-headquartered company said the issuance follows the debut of a €60 million digital bond in 2023, underscoring its commitment to advancing digital financial solutions.
The bond, with a term of one year, was settled via SWIAT’s privately approved blockchain and used the Bundesbank’s Trigger Solution. The company says the transaction was carried out “fully automated, within minutes and in central bank money.”
“By issuing another digital bond, we are once again demonstrating our spirit of innovation and underlining our goal to continuously drive digital solutions for the financial markets.”
Ralf P. Thomas, chief financial officer of Siemens
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DekaBank acted as bond registrar, with BayernLB, DZ BANK, Helaba and LBBW participating as investors, while Deutsche Bank facilitated money settlement by the central banks.
Siemens’ blockchain efforts are part of a broader strategy involving new technologies. Earlier in 2024, the company partnered with Sony to explore the metaverse, focusing on industrial applications. The collaboration aims to launch a new mixed-reality headset designed for professional designers and engineers that improves productivity with artificial intelligence, said Roland Busch, CEO of Siemens.
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