March 29, 2024

Germany's oldest bank to release Staplecoin on Stellar network

Germany's oldest bank to release Staplecoin on Stellar network

The first regulated stablecoin pegged to the euro will be issued by one of the oldest banks in the world – Bankhaus von der Heydt(BVDH)

Bankhaus von der Heydt (BVDH) mainlyfocuses on serving institutional clients in transactions involving securitization, a process in which different assets are pooled together so that they can be reissued as securities. 

In partnership with Bitbond and Stellar, the bank will issuethe first EURB stablecoin for payments by BVDH clients and third-party financial application developers. New stablecoin EURB – It is the first stablecoin issued directly by a banking institution on the Stellar blockchain.

Bitbond has developed a platform specifically for BVDH that will allow the use of staplecoin for securitization.In addition, BVDH intends to use the functions of a payment agent within the company, creating new opportunities for bank customers who want toto issue tokenized financial assets with full calculation on the blockchain.

Any user or business will be able to use EURB to settle asset transfers with a fully regulated stable euro coin secured by 1:1.The partners plan to use the token in the DTransfer service to facilitate cross-border transfers and the possibility of exchanging different steblcoins in banking systems.

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