Siemens issues first digital bond on blockchain | Press | Company
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“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 use the latest digital solutions also in finance. We are proud to be one of the first German companies to issue a blockchain-based bond. This makes Siemens a pioneer in the ongoing development of digital solutions for the capital and securities market, says Ralf P. Thomas, CFO of Siemens AG.
It has been possible to issue blockchain-based digital bonds in Germany since the Electronic Securities Act entered into force in June 2021.
Siemens has used the new opportunities in the Act on Electronic Securities and sold the securities directly to investors without involving established securities central offices. Payments were made using classic methods as the digital euro was not yet available at the time of the transaction. The transaction could be completed within two days.
“By moving away from paper and towards public blockchains for the issuance of securities, we can execute transactions significantly faster and more efficiently than when issuing bonds in the past. Thanks to our successful cooperation with our project partners, we have reached an important milestone in the development of digital securities in Germany,” said Peter Rathgeb, Corporate Treasurer of Siemens AG, “We will actively drive their ongoing development.”
Hauck Aufhäuser Lampe Privatbank AG acted as bond registrar for the transaction. DekaBank, DZ Bank and Union Investment invested in the bond.
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