KfW relies on Boerse Stuttgart Digital
Marc Nemitz | 13.08.2024Boerse Stuttgart Digital takes over the technical infrastructure for KfW's new digital bond, including wallet management and private key security
Stuttgart, August 2024 - KfW, Germany's largest promotional bank, has selected Boerse Stuttgart Digital as the technical infrastructure partner for its new blockchain-based digital bond. The collaboration marks an important step in the further development of blockchain-based finance.
Boerse Stuttgart Digital takes on key role
As part of the project, Boerse Stuttgart Digital is providing the technical infrastructure for the crypto securities planned by KfW in accordance with the German Electronic Securities Act (eWpG). Specifically, the company will provide the wallet and secure the private keys in the issuance and repayment process.
Expansion of the service portfolio
With the new partnership, Boerse Stuttgart Digital is expanding its offering in the area of tokenized securities and further positioning itself as a fully regulated one-stop store for cryptocurrencies and digital assets. This is the first collaboration of its kind with KfW and strengthens Boerse Stuttgart Digital's position as a trusted partner for banks, brokers and asset managers in Europe.
Significance for the financial sector
As a pioneer in digital assets, we want to play a key role in shaping the digital European market infrastructure.
Dr. Ulli Spankowski, Managing Director of Boerse Stuttgart Digital
According to Dr. Ulli Spankowski, Managing Director of Boerse Stuttgart Digital, the participation in KfW's blockchain-based digital bond is a milestone in the digital transformation of the financial sector. Gaetano Panno, Head of Transaction Management at KfW, also sees the collaboration as an important step for the future of blockchain-based securities.
Participation in ECB tests
In addition to the partnership with KfW, Boerse Stuttgart Digital is also participating in the EU-wide tests of the European Central Bank (ECB) for the settlement of blockchain-based financial transactions against central bank money. Here, too, the company is providing wallets and securing the private keys. These developments underline the growing importance of blockchains in the financial sector and, in particular, Boerse Stuttgart Digital's role as an infrastructure provider in Europe.
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