We are happy to share that our member Bitbond, Germany’s leading tokenization and digital asset custody technology provider, and Bankhaus von der Heydt (BVDH), one of Europe’s oldest banks, have joined forces to issue a Euro (EUR) stablecoin (EURB) on the Stellar network. The EURB stablecoin is the first stablecoin issued directly by a banking institution on Stellar and one of the first of its kind in the crypto market.
BVDH has primarily focused on serving institutional clients in securitization-related transactions since 1754. After exploring ways to make their securitization business more efficient, Bitbond’s white label tokenization technology emerged as the best way to do so. Stellar Development Foundation, the nonprofit organization supporting the development and growth of Stellar, facilitated the development of EURB and consulted with both Bitbond and BVDH regarding its technical integration.
EURB can be leveraged by BVDH’s customers as well as third party developers of financial applications to settle digital asset transfers on-chain. With the asset now live on Stellar, Bitbond will integrate it into the platform it built for BVDH to use the stablecoin for securitization which includes mechanisms for burning and minting the token. For the Stellar ecosystem, this adds a new on/off-ramp for EUR on the network. Any user or business looking to connect to EUR through Stellar rails can now do so.
Bitbond provides bank-grade blockchain technology to financial institutions. The white-label software improves the issuance, settlement and custody of securities and other financial instruments. The offered modules consist of digital asset custody, asset tokenization and on-chain payments. Bitbond was founded in 2013 in Berlin Germanyand has implemented software for regulated clients all around Europe and in Asia.