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A German company has used the Stellar Blockchain to issue a $ 24 million bond


Vonovia, one of Germany's leading real estate companies, announced that it has issued digital bonds worth 20 million euros ($ 24.3 million) on the Stellar blockchain. The newly launched three-year bond will use Stellar blockchain technology for the transfer of real estate rights.

According to the official announcement, Vonovia collaborated with a Germany-based online marketplace, Firstwise, to issue the tokens. The company plans to make the entire issuance process more convenient and efficient with the use of the Stellar blockchain.

Vonovia also outlined recent initiatives by the German government to digitize the country's financial system as part of a broader blockchain strategy for greater transparency, market integrity, and investor protection.

Commenting on the broadcast, Helene von Roeder, Vonovia's chief financial officer, said:

“Digitization offers us the opportunity to finance ourselves faster, easier and cheaper. The company has been successfully financed through the capital market for years and uses a wide range of financial instruments to do so. We want to try new technologies like Stellar to gain experience. We can well imagine that it will play an important role in the capital market in the future. Emissions are transparent and traceable in real time, ensuring a professional transaction standard. In addition, it will allow us to attract new investors worldwide ”.

In December, Finance Magnates reported on the approval of the German cabinet to eliminate paperwork in securities transactions via blockchain technology. It appears that Stellar is becoming the preferred choice of governments around the world to build a digital economy. Earlier this month, Ukraine announced the selection of the Stellar blockchain network to build the country's virtual asset ecosystem and its national digital currency.

The cryptocurrency Stellar (XLM) has gained significant value since the start of 2021. XLM jumped more than 100% in the first 10 days of this year and reached a market capitalization of $ 6.6 billion after recent announcements. At time of writing, Stellar is trading around $ 0.30.

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