Deutsche Bank Used EOS Network to Tokenize Bonds
15 October 2019 11:19, UTC
The Deutsche Bank adopted the EOS mainnet to tokenize the bank’s bonds. As reported, the tokenization occurred in collaboration with an authorized UK-based custodian, Queen Street Finance, that holds a stablecoin digital asset DUSD working on the EOS protocol. The new development is equipped with evolving fixed income instruments in the EOS ecosystem.
As reported in a dBonds report on the Medium blog:
“This is an important step towards bringing fixed income instruments into the EOS ecosystem and building a transparent, decentralized bank with stablecoin fully collateralized by high valuable on-chain assets including tokenized bonds.”
The advancement is aimed to introduce fixed income instruments in the EOS ecosystem. Also, the USD-denominated bond will be obtained and deposited in the Queen Street Finance escrow account.
Image courtesy of Truthout