Third largest publicly traded company in Germany by market value Siemens, Polygon BlockchainIssued ‘i-based euro bonds.
German technology company Siemens has issued Blockchain-based bonds to reduce paperwork and save time. The term of the 64 million dollar bond issued by Siemens based on Polygon Blockchain is one year.
Siemens Issues Blockchain-Based Bonds to Reach Buyers Directly
Germany’s third-largest publicly traded company by market capitalization Siemens, issued its first digital bond to reduce paperwork and reach potential buyers directly.
According to a press release, the 60 million euro ($64 million) bond issued on the Polygon blockchain is set to have a maturity of one year. The company did not disclose the interest rate.
The company said in a statement that a blockchain bond makes paper-based global certificates and centralized clearing unnecessary. In addition to the statement, the company used the following statements:
“Furthermore, the bond can be sold directly to investors without the need for a bank to act as an intermediary.”
This is not Siemens’ first experience with Blockchain technology. In December 2021, JPMorgan Chase partnered with the engineering and manufacturing giant to develop a blockchain-based system for payments.
