Deutsche Bank issues bonds on the EOS blockchain
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Answer Deutsche Bank issues bonds on the EOS blockchain
The dBonds team was recently able to offer Deutsche Bank tokens and issue bonds on the EOS blockchain.
The team was able to do this after obtaining a license and agreement from the UK regulator represented by Coin Street Finance and DUSD, a fixed currency already issued on EOS.
As for how Deutsche Bank’s new EOS-based bond works, it is as follows:
- Paper bonds denominated in US dollars are purchased and deposited in the escrow account of the trustee.
- The nominated dbond is then issued to DSUD under the “thedbondsacc” contract at the request of the issuer.
- The dbond remains locked inside the bank and a new DUSD is issued, whereby the dbond is considered collateral for the DUSD token.
And what was stated in Advertising About the issuance of new bonds on the EOS blockchain:
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This step is an important step towards introducing fixed income instruments into the EOS ecosystem
And building a transparent decentralized bank with a stable currency fully backed by valuable on-chain assets including token bonds.
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We previously mentioned the joining of Deutsche Bank to the JP Morgan network in the matter:
Deutsche Bank joins JPMorgan’s blockchain payments network
Read also:
Authorities raid Deutsche Bank for involvement in money laundering cases
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