A Deutsche Bank bond has been tokenized on EOS mainnet
In a surprising and amazing move, The dBonds team of the Deutsche team have managed to successfully tokenize the bank’s bond on the mainnet of EOS.
The collaboration was made possible by Queen Street Finance, an authorized US-based custodian that already has its stablecoin standard DUSD issued on EOS blockchain.
These USD-denominated bonds can be bought and deposited into the custodian escrow account. The DUSD nominated dbond (DBAAAAA) is then issued by thebondsacc contract at emitent’s request that is unitedbridge account. Maksim Mironov, co-founder of Depos commented:
“This is an important step towards bringing fixed income instruments into EOS ecosystem and building transparent decentralized bank with stablecoin fully collateralized by high valuable on-chain assets including tokenized bonds,”
This market could grow and become massive. This is obviously a good test to see what happens at maturity and if the mechanics run smoothly. The bond market is one of the biggest in finance and now DiFi has entered the crypto sector it is set to grow. Now this is on the corporate sector rather than personal retail lending it could catch on.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
