Siemens has released Polygon blockchain nominated in the euro – Bits Media

The German technological giant Siemens has released tokenized bonds on the Polygon blockchain with a maturity of one year. The initial volume of the issue amounted to more than € 60 million.

According to Siemens, blockchain will exclude the need for paper certificates and centralized clearing in the intermediary bank. The use of this technology has become part of the company's efforts to reduce paperwork and provide investors with more direct access to its financial products.

Dekabank invested in tokenized bonds, DZ Bank и Union Investment. Hauck Aufhäuser Lampe Privatbank AG acted as a transaction recorder.

Recall, that in June 2021 year in Germany entered into force the law on electronic securities, which allows the issue and sale of debt obligations on the blockchain. The Central Bank of Germany in cooperation with Deutsche Börse has tested the technology of calculations on transactions with tokenized securities.