The German real estate group Vonovia has issued a 20 million euro bond on the Stellar blockchain. The objective is the issuance of security tokens for the transfer of real estate rights. The listed Vonobia, with more than 400,000 apartments in 400 locations in Germany, indicates in a note that it created the token independently through the online market firstwire. The term of the bond is three years.
The digitization of the Vonovia bond comes a month after the German government approved the issuance of electronic securities. The company alludes in a note to the aforementioned bill approved by the Federal Government to advance the digitization of the German financial center.
Vonovia in Stellar, cheaper financing
Joachim Olearius, spokesperson for the partners of MM Warburg-Bank, the German independent private bank that has assisted in the issue, indicates that tokenization will structurally change the range of financial products and services. “We are pleased to have successfully completed this transaction with an experienced issuer. It underlines the innovative strength of our bank, ”says Olearius.
Germany passes bill for electronic securities on blockchain
Helene von Roeder, Vonovia CFO, explains that digitization offers the opportunity for faster, easier and cheaper financing. In fact, the company has been successfully financed for years through the capital market and other financial instruments. “We want to test the new technology to gain experience, because we believe it will play an important role in the capital market in the future. Issues are traceable in real time, ensuring a professional transaction standard and also allowing us to target new global investors. ”
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