Not only the real estate sector continues to digitize, but also the finance sector. Technical solutions for processing transactions digitally already exist, and this is already feasible for bonds. In the meantime, the legislature is also following suit – at least in Germany. It was only in mid-December that the Federal Cabinet passed a bill to introduce electronic securities, which is intended to advance the digitization of the German financial center and meet a central requirement of the Federal Government’s blockchain strategy for more transparency, market integrity and investor protection. Vonovia has now for the first time issued a fully digital registered bond in the amount of 20 million euros. The term is 3 years. For the issue, security tokens were used to transfer ownership of the claim under the highest security standards. The transfer of ownership rights to real assets takes place on the established Stellar blockchain, which is used internationally for transactions.
According to Vonovia, this is a novelty on the capital market: Vonovia created the token independently via the firstwire online marketplace. Vonovia had already placed a promissory note loan of 50 million euros on the platform, which brings issuers and investors together directly and in real time, in September 2019.