Deutsche Bank Used EOS Network to Tokenize Bonds
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