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Germany’s KfW to pioneer blockchain-based bonds
KfW, a German state-owned development bank, has previously issued digital bonds and is now preparing to issue bonds using blockchain technology.
KfW, a German state-owned bank, is preparing to issue its first digital bonds as cryptocurrency securities, furthering its exploration of blockchain technology. The bonds are expected to be issued in the summer of 2024.
In preparation, KfW will engage in discussions with European institutional investors to familiarize them with this new type of transaction. Union Investment, an experienced cryptocurrency investor, has already been secured as a key investor.
A group of financial institutions, including DZ Bank, Deutsche Bank, LBBW, and Bankhaus Metzler, will manage the transaction and participate in investor discussions. DZ Bank will also serve as the collective bondholder.
Frankfurt-based fintech company Cashlink Technologies GmbH will act as the registrar for the cryptocurrency securities.
While the bonds will be issued digitally, payments will continue to be processed through traditional methods.
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