German technology conglomerate Siemens has issued its second digital bond worth €300 million using the SWIAT permissioned blockchain, ChainCatcher reported.

The one-year bond was settled in just minutes using Germany’s Trigger solution, which automates central bank payments via the TARGET 2 system.

The company said the fast settlement was in contrast to Siemens’ previous €60 million bond issued on the Polygon blockchain, which took two days to settle.

The issuance is part of the European Central Bank’s (ECB) distributed ledger technology (DLT) wholesale settlement trial.