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Siemens Issues €60M Under Germany’s Electronic Securities Act

While the crypto industry remains under the lens of scrutiny, Siemens decided to issue bonds worth 60 million Euros to three investors.

These include DZ Bank, DekaBank, & Union Investment. Siemens is now one of the first MNCs to issue bonds over the Polygon blockchain. The German Industrial Powerhouse conglomerate has done so under all the valid compliances. Bonds issued are covered under the Electronic Securities Act, which became effective in June 2021.

While the bond was issued on-chain, the proceeds towards the same were collected through a traditional banking system. What really makes a move by Siemens worth noting is that it has been able to issue bonds over the Polygon blockchain and avail of some important benefits one has only read about in theory.

(By David Cox)

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