A novelty move — German Real Estate Compan Vonovia issues Security Token worth 20 Million Euros!

In mid-December last year, in an attempt to drive digitization in the German financial marketplace, Germany approved a bill introducing electronic securities. The bill played a key role in furthering the German Government’s blockchain strategy for greater transparency, market transparency, and investor protection.

Following this precedence, a German real estate company, Vonovia has issued a fully digital bond of 20 Million Euros for the first time! Vonovia has harnessed Stellar Blockchain to issue the bond. This means that for the first time, the company is using Stellar Blockchain to transfer ownership of Bond and Real Asset all around the globe. Vonovia has conducted this novelty financial transaction of issuing security tokens to transfer real estate rights by using Firstwire.

While CFO Vonovia Helene Von Roder attributes blockchain-powered bond digitization as a medium to finance the company “faster, easier and cheaper”.

CEO of First wire sees the transaction as a “milestone because it introduces token to the capital market which has the potential to change the bond market considerably.”

Decentralized Finance and Tokenization of securities is revolutionizing the traditional financial system. Become a part of the growing crypto community. Invest in XcelToken Plus (XLAB) an ERC-20 token platform built in an Ethereum platform. Book over 2.3 million hotels and 450 flights around the globe using XLAB. Trade-in leading crypto exchanges.