- The Bankhaus von der Heydt bank is getting ready to issue its own tokenised securities on the public Stellar blockchain.
- The decision to use Stellar didn’t come as a surprise to many as it was created with banking systems in mind.
The Bankhaus von der Heydt bank based in Munich, Germany, is getting ready to issue its own tokenised securities on the public Stellar blockchain. The decision to use Stellar didn’t come as a surprise to many as it was created with banking systems in mind. Announced last week on the 10th of February, the bank has teamed up with the Berlin-based blockchain company, Bitbond which will help leverage the blockchain technology in its organisation of securities. This is one of the oldest banks in the country as it has been active for more than 260 years.
The blockchain centric solutions have been offered by Bitbond for many years now since its launch in 2013. Thanks to a collaborative effort with the Munich-based bank, a euro stablecoin will be created which will help investors by token of securities on the blockchain of Stellar.
Furthermore, von der Heydt and Bitbond have been providing regulated digital assets custody solutions to customers since last year. The solution is going to be used in order to safely store the tokenised securities. Essentially, this will make it possible for clients to store stablecoins in the custody solution from the German bank.
One spokesperson for the bank has said the following:
“Securities can be traded directly without an intermediary, making financing much cheaper and less complicated.”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!