Germany’s state-owned development bank Kredittanstalt fuer Wiederaufbau (KfW) is preparing to issue its first blockchain-based digital bond in the form of crypto-securities, Foresight News reported. KfW has already issued its first digital bond in the form of centrally registered securities under the German Electronic Securities Act, the eWpG, and will take the next step to issue a blockchain-based bond.
KfW will hold discussions with European institutional investors in a few weeks of preparation to give them time to familiarize themselves with the deal, which is expected to be completed in the summer. The bond is expected to mature in December 2025 and have a minimum size of 100 million euros ($108 million), according to a person familiar with the matter.
DZ Bank, Deutsche Bank, LBBW and Bankhaus Metzler will act as joint bookrunners. Frankfurt-based fintech company Cashlink Technologies GmbH will act as the crypto securities registrar.