Blockchain lender Bitbond signs bank deal

By Aisling Finn on 14th February 2020

Crypto and Blockchain

It is providing the bank with an end-to-end platform to tokenise securitisations, issue Euro-stable coins and provide digital asset custody.

Blockchain lender Bitbond signs bank deal
Image source: Bitbond

 

Bitbond, the German blockchain-powered lender, has announced a cooperation with Bankhaus von der Heydt, one of the oldest private banks in Europe.

The bank plans to issue securitizations and bonds using blockchain technology and to issue its own digital Euro as a token.

Berlin-based Bitbond has been developing blockchain financial services since 2013 and this cooperation with Bankhaus von der Heydt will allow them to provide a wider range of services and give their customers access to blockchain services for the first time.  

The bank’s clients will benefit from a faster and more transparent process and from the reliability offered by a fully regulated banking institute.

Philipp Doppelhammer, managing director of Bankhaus von der Heydt, said: “We are very pleased that asset tokenization is now ready for the market from a regulatory and technological perspective.

“We have been observing the blockchain space with regards to financial service solutions for quite some time now as we believe that it will offer our clients outstanding added value.”

Radoslav Albrecht, Bitbond founder and CEO, added: “Bankhaus von der Heydt is one of the first to use blockchain technology in the area of securitization and private placements. We assume that many banks will follow this example”.

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