Deutsche Bank Bond Successfully Tokenized on EOS Mainnet
The dBonds team of the Deutsche team has managed to successfully tokenize the bank’s bond on the mainnet of EOS. This happened in collaboration with Queen Street Finance, an authorized US-based custodian that already has its stablecoin standard DUSD issued on EOS blockchain.
These USD-denominated fiat bonds can be purchased 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.
This dbond is locked within the thedepsbank and new DUSD are issued for dbond to work as DUSD collateral.
“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,”
said Maksim Mironov, co-founder of Depos.
The seventh-largest cryptocurrency is currently trading at $3.14 with 24 hours gains of 0.57%, as per Coincodex. EOS, however, is still down over 87% from its all-time high of $22.70.