German Bank Issues First Euro Stablecoin on the Stellar Network

The German bank Bankhaus von der Heydt partnered with Bitbond to issue EURB stablecoin on the Stellar Network.

December 10, 2020, | AtoZ MarketsThe German bank Bankhaus von der Heydt (BVDH), which has been established since 1754, has partnered with tokenization technology provider Bitbond to issue a EURB secured euro stablecoin on the Stellar network.

BVDH focuses primarily on serving institutional clients in securitization transactions - the financing of certain assets through the issuance of securities. While exploring opportunities to improve business efficiency using blockchain, the bank drew attention to tokenization technology.

Multibank Review
Visit Site
eToro Review
Visit Site
4.8/5 Review
Visit Site

Clients of German bank BVDH  can now use EURB euro stablecoin

According to the statement, EURB can be used by BVDH clients as well as third-party developers of financial applications to settle the transfer of digital assets on the blockchain.

Bitbond is integrating stablecoin into a platform created for the bank, which makes it possible to use EURB for securitization, including mechanisms for issuing and burning tokens.

“We were attracted to Bitbond and Stellar because of the ease of issuing and managing assets on the network,” said BVDH Managing Director Philippe Doppelhammer.

According to him, the first use case for EURB will be the introduction of the token into the SatoshiPay DTransfer cross-border transfer service.

Notably, the total capitalization of the five leading stablecoins in the world has already exceeded $25 billion.

Think we missed something? Let us know in the comment section below.

Leave a Reply

Your email address will not be published. Required fields are marked *