EOS mainnet used in tokenizing Deutsche Bank bond
- Deutsche Bank bond launched on EOS mainnet in collaboration with Queen Street Finance.
- The development is geared towards introducing fixed income instruments in the EOS ecosystem.
The dBonds team has successfully tokenized the Deutsche Bank bond on EOS mainnet. The tokenization took place in collaboration with Queen Street Finance, an authorized UK-based custodian. dBond already has a stablecoin digital asset DUSD that runs on EOS protocol.
The USD-denominated bond will be bought and deposited in the Queen Street Finance escrow account. Consequently, the DUSD nominated dbond (DBAAAAA) is then issued by thedbondsacc contract following the request of emitent, in other words, the unitedbridge account.
"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."
Meanwhile, EOS is trading at $3.15 following a 1.38% gain in value on the day. EOS is reacting in tandem with the generally bullish cryptocurrency market. Most of the major cryptos are in the green led by Ripple with its 4% upside movement.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
