Hauck Aufhäuser supports KfW in blockchain bond issuance
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Hauck Aufhäuser supports KfW in blockchain bond issuance 03 July 2024Germany Reporter: Jack McRae
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KfW will issue its first crypto security under the Electronic Securities Act, on the Polygon blockchain on Thursday 4 July, amounting to €100 million.
For the issuance, Hauck Aufhäuser Digital Custody, Hauck Aufhäuser Lampe Privatbank’s subsidiary, will serve as the crypto custodian.
The bearer bond has a term of around one year, and represents one of the first crypto securities from the German banking sector.
Simon Seiter, head of Digital Assets at Hauck Aufhäuser Lampe, states: "We are very proud that we were chosen to act as the licensed crypto custodian in this groundbreaking transaction and to support KfW in issuing a blockchain bond with our expertise."
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