Bitbond is the first German company to receive regulatory approval from The Federal Financial Supervisory Authority (BaFin) to launch tokenised bonds and the Stablecoin is said to be a world first issued directly by a banking institute that is backed 1:1 by the euro.
"Any user or business looking to connect to EUR through Stellar rails can now do so." said the Stellar Development Foundation in an official announcement.
Commenting on the launch, Philipp Doppelhammer, Managing Director at Bankhaus von der Heydt said,
“We were drawn to Bitbond and Stellar due to the ease in which assets are issued and managed on the network.
Doppelhammer stated,
"In our first use-case, SatoshiPay, a blockchain payments company and one of the earliest members of the Stellar network, will implement our EURB into its service DTransfer. DTransfer facilitates global cross-border money transfers for its business customers by exchanging different stablecoins and linking into banking systems around the world.”
Institutional investors are often interested in an efficient, transparent and safe process, and this is exactly the case for Cryptoassets like Stablecoins. With the recent partnership announcement from VISA/USDC and applications from Paxos and BitPay to become U.S federally regulated banks, we will see the bigger players entering the market.
Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, said the partnership between Bitbond and BVDH is testament to the ways that traditional banking and blockchain can work together "powering a new wave of financial innovation, leveraged immediately by Stellar-based apps".
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