Europe’s oldest bank based in Germany, Bank Von der Heydt, works on a special-purpose euro stablecoin that will be able to facilitate placements in tokenized securities and will use the help of Stellar as per the announcements that we have today in our Stellar lumens news.
The Munich-based bank which was established in 1754, probably Europe’s oldest bank, made the announcement back on Monday that it partnered with the financial services provider BitBond and will integrate the tokenization into its established securitization platform. The partnership will also allow the bank to tokenize digital securities on the Stellar blockchain which can offer a lot of advantages for the institutional clients via private placements.
Tokenization can simplify equity sales and can eliminate a lot of the associated frictional costs according to the bank. One of the bank representatives wrote on Monday:
‘’Tokenization can simplify equity sales and eliminate much of the associated frictional costs, according to the bank. “[S]ecurities can be traded directly without an intermediary, making financing much cheaper and less complicated.’’
There are no plans yet for the bank to enable wider public access to the platform. All of the clients will be able to securely store tokenized equity in a custody solution that is developed by BitBond and von der Heydt in 2019. The solution will get approval from the German financial regulator BaFin after the changes in the laws that are meant to provide a license to continue offering cryptocurrency custody. The investors will also be able to purchase tokenized equity by using the euro stablecoin with the help of Stellar that will also be issued by the bank. The Clients will be able to convert their euros into stablecoin which can also be stored in the custody solutions of the bank.
Radoslav Albrecht, who is a founder of Bitbond and CEO, explained:
“Digital euro payments will happen much faster, there will be a real-time, on-chain DvP (delivery versus payment of securities) and the bank doesn’t need to involve a third-party paying agent but can provide everything independently.”
BitBond received approval by BaFin for its tokenized bond back in January 2019, going on to launch Germany’s first regulated security token offering later in the year. It was established in 2013 and the company originally operated as a blockchain-based lending platform for smaller firms and raised $5 million in 2017 to finance these loans.
Stellar Lumens News: Can XLM Breach The $0.082 Level?
- Support: $0.078, $0.075, $0.073, $0.070, $0.065, $0.060
- Resistance: $0.083, $0.088, $0.090, $).098, $0.102, $0.109, $0.117, $0.120.
Stellar XLM Is Ready To Break Past Its Multi-Year Downtrend
“[Stellar Lumens] flipped the levels of $0.04 and $0.053 [into] support. [Now,] as long as $0.053 remains support, targets on the upside can be spotted with a potential of 195 percent.”Besides the bullish attitude that Stellar Lumens had, the Crypto Fear and Greed Index (CFGI) is noticing a huge levels of greed among investors. Greed is conventionally seen as a negative sign and tends to indicate that a selling opportunity is coming in the near future. Following the new 65% upward movement that Stellar Lumens experienced from the second half of December 2019, a correction is reasonable. Bearish impulses like this can help to maintain the upward trend healthy by permitting sideliners to get back into the market. A new inflow of capital will probably send Stellar Lumens into growth.
The Stellar Platform: 11 Exciting Projects Opening A New Horizon
- The IBM Universal Payment Solution - IBM uses the Stellar platform to give more transparency into their payment structure. As sources show, the company is close to helping a central bank move paper money on the Stellar blockchain network.
- Veridium - This project is in partnership with IBM and Stellar and aims to tokenize the carbon market globally. It has been in the Stellar news for a while now, dealing with automating the offsetting of carbon emissions.
- Stellar X - Creating a great user interface through the "decentralized" aspect.
- Open Garden - Allowing the users to turn their phone into a WiFi hotspot and get paid in Stelalr Lumens (XLM) for data they used.
- TillBilly - A platform which aims to establish a thoroughbred point-of-sale (POS) service on the Stellar Network, easing the burden of paper receipts.
- Slice - Slice is tokenizing real estate projects which were previously only accessible to institutions that are established in the United States.
- Sure Remit - A remittance network that Africans can use to send money home to their loved ones..
- SmartLands - The Stellar platform wants to tokenize agricultural lands and enable the use of crypto for acquiring landed properties.
- Tempo - This is a money transfer remittance company offering a well-established platform which resembles the 'European Western Union' with penny-based fees per transactions.
- Stronghold - A USD anchor that helps the Stellar platform to issue tokens including BTC, ETH and USD.
- SatoshiPay - What started as a micro-payments platform for web content on the bitcoin network is now an avenue which can help Stellar's massive adoption.
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