Siemens has recently announced the issuance of a €300 million digital bond, marking its second venture into blockchain technology for securities transactions under Germany’s electronic securities act.
The German multinational technology conglomerate Siemens has launched a new digital bond worth €300 million on a blockchain, in accordance with Germany’s electronic securities act, showcasing its commitment to expanding its presence in the distributed ledger market.
In a press release on September 4th, the company, headquartered in Munich, highlighted that this issuance follows its initial introduction of a €60 million digital bond in 2023, emphasizing its dedication to advancing digital financial solutions.
The bond, with a one-year maturity, was settled using the private permissioned blockchain of SWIAT and leveraged the Bundesbank’s Trigger Solution. Siemens stated that the transaction was conducted in a “fully automated manner, completed within minutes, and in central bank money.”
“By issuing another digital bond, we are demonstrating once again our spirit of innovation and underscoring our aim to continuously drive digital solutions for the financial markets.”
– Ralf P. Thomas, Chief Financial Officer of Siemens
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DekaBank acted as the bond registrar, with BayernLB, DZ BANK, Helaba, and LBBW participating as investors, while Deutsche Bank facilitated the central bank money settlement.
Siemens’ foray into blockchain technology aligns with its broader strategy involving new technologies. In early 2024, the company teamed up with Sony to explore the metaverse, focusing on industrial applications. This collaboration aims to introduce a new mixed-reality headset tailored for professional designers and engineers, enhancing productivity with artificial intelligence, as mentioned by Siemens CEO Roland Busch.
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