Siemens Issues First Digital Bond Worth $64M
MUNICH, DE – Tech infrastructure provider Siemens has launched its first digital bond worth $64 million on the Polygon network, according to a press release.
Siemens said the bond has “a maturity of one year and it underpinned by a public blockchain [...] it makes paper-based global certificates and central clearing unnecessary. What’s more, the bond can be sold directly to investors without needing a bank to function as an intermediary.”
German banks DekaBank, DZ Bank, and Union Investment have already invested in Siemens’ digital bond. Siemens is Germany’s third-largest corporation by market cap.
Following the issuance of the bond, MATIC rose 9.01%, valued at $1.27 at press time. Siemens’ digital bond is yet another corporate partnership in a bevy of partnerships Polygon has made over the past year.
