References
Corporate bond tokenization for ABN AMRO
ABN AMRO, The Netherlands
Conducted efficiency analyses of tokenization in the debt capital markets (DCM) business of the bank
Prepared process flows for the end to end issuance and settlement of tokenized corporate bonds where ABN AMRO acts as an arranger bank
Supported internal pilot tokenization transaction
Supported transaction with ABN’s corporate client APOC which issued bond on a public chain with Bitbond tech
Working on production implementation of tokenized bond transactions setup including integration into bank internal process and IT systems such as core banking and payments systems
Usage
Registering a EUR 450 thousand digital bond on a public blockchain on behalf of their client APOC
Goals
- Leverage efficiency gains of tokenization in the DCM business of the bank
- Meet demands of institutional investors and corporate issuers around digital assets
- Develop innovation project into production state
Corporate bond tokenization for SCB
Standard Chartered Bank, Singapore/Philippines
Implemented an issuance platform for tokenized corporate bonds in Southeast Asia
Covered the entire value chain including connection of a distribution partner (Union Bank of the Philippines), order book management and custody
Delivered tokenization module and custody software
Supported discussions with local regulator
Usage
The Union Bank of the Philippines issued a tokenized bond of USD 187 million through the platform in December 2020
Goals
- Establish an issuance platform for security tokens
- Improve access to corporate bond investing for retail investors
- Increase secondary market liquidity for bonds
Tokenization platform for DCM products
Vonovia/firstwire, Bochum/Cologne
Provided technology for the first tokenized bond of a German DAX30 company via Bitbond client firstwire
Delivered the technology for tokenization and transfer of security tokens
Enabled independent arrangement of transactions via firstwire without intermediaries such as CSDs
Helped coordinate underwriting of the transaction by MM Warburg, custody by Bankhaus von der Heydt
Digitized the entire value chain
Usage
Issuance of EUR 20 million digital registered bond by DAX30 company
Goals
- Automate issuance and investment process on the firstwire marketplace
- Innovative debt financing of real estate projects
- Give institutional investors access to tokenized bonds
Digital asset banking platform
Bankhaus von der Heydt, Munich
Implemented a technology platform for digital asset banking including tokenization and custody
Supported the bank with necessary documentation for crypto custody license application
Delivered the technology for the automated issuance of the bank’s EUR stable coin
Achieved significant efficiency gains through technology deployment (lower costs, fewer intermediaries and reduced complexity, digital onboarding, global transferability and high secondary market liquidity)
Usage
Over EUR 50 million assets under custody
Goals
- Reduce issuance time for securitizations from 6 weeks to 3 days via tokenization
- Introduce stable coin based payments settlement via the bank’s EURB digital Euro
- Launch custody of digital assets under German crypto custody license
First European tokenized bond
Bitbond Finance, Berlin
Developed legal concept and discussed it with German financial regulator BaFin throughout the year 2018
Received approval for tokenized bond prospectus in January 2019 and conducted the BB1 tokenized bond offering thereafter
Developed proprietary tokenization technology that is compliance with EU prospectus regulation
Manage coupon payments on-chain in an automated way
Made the BB1 tradeable on a decentralized exchange
Usage
Over EUR 2.6 million bond volume
Goals
- Prove that a fully dematerialized bond is possible under EUR prospectus regulation
- Raise working capital from retail investors
- Show that our tokenization technology works at scale
