The oldest bank in Germany will issue a stablecoin on the Stellar network

The first regulated stablecoin pegged to the euro will be issued by one of the oldest banks in the world - Bankhaus von der Heydt (BVDH)

Bankhaus von der Heydt (BVDH) is primarily focused on serving institutional clients in transactions involving securitization, a process in which different assets are pooled together so that they can be reissued as securities. 

In partnership with Bitbond and Stellar, the bank will issue the first stablecoin EURB for payments by BVDH clients and third-party financial application developers. The new EURB stablecoin is the first stablecoin issued directly by a banking institution on the Stellar blockchain.

Bitbond has developed a platform specifically for BVDH that will allow the stablecoin to be used for securitization. In addition, BVDH intends to bring payment agent functionality in-house, creating new opportunities for banking clients who want to issue tokenized financial assets fully settled on the blockchain.

Any user or business will be able to use EURB to settle asset transfers using a fully regulated 1:1 backed Euro stablecoin. The partners plan to use the token in the DTransfer service to simplify cross-border transfers and the ability to exchange various stablecoins in banking systems.

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