Siemens Issues €60 Million Digital Bond On Blockchain

The German industrial conglomerate, has issued a €60 million ($68 million) digital bond on a public blockchain. The bond was issued on the Ethereum blockchain using a smart contract, and was aimed at raising funds for the company's digitalization strategy.

This move by Siemens is a notable example of a traditional company embracing blockchain technology to raise funds and improve transparency. By using a blockchain-based platform, Siemens is able to issue bonds more efficiently, reduce costs, and make the process more accessible to a wider range of investors.

The bond has a maturity date of two years and a coupon rate of 0.5%. The issuance was completed using Siemens' in-house blockchain platform, which was developed in partnership with a fintech firm named Commerzbank.

Siemens has stated that this issuance is part of its broader efforts to develop and apply blockchain technology to its operations, including supply chain management, product tracking, and digital identity verification.

Overall, this move by Siemens is a significant step forward in the adoption of blockchain technology by large corporations, and may serve as a model for other companies to follow.