Tokeny, a European tokenization provider, has facilitated ABN AMRO’s issuance of a tokenized bond, marking the first time a Dutch bank has issued a green bond on a public blockchain. The offering has allowed Vesteda to raise €5 million and is expected to have a significant impact on the financial markets and redefine banking in the Netherlands and beyond.
The digital asset management of the tokenized bond was handled by Tokeny using Polygon and the ERC3643 standard. All compliance procedures were managed through smart contracts on the blockchain.
Polygon is an Ethereum scaling solution that addresses some of the limitations of the blockchain. According to Polygon Labs, it has processed 2.9 billion transactions and has over 320 million unique addresses since its inception.
Tokeny highlighted that ABN AMRO can track the ownership of the bonds and retrieve digital securities from external wallets if necessary, ensuring the protection of investor rights.
ABN AMRO’s Head of Digital Assets, Martijn Siebrand, stated that compliance rules have been successfully integrated into the digital securities, allowing them to seamlessly interact with other applications on the public network. He sees this as the beginning of a transformative journey, with endless possibilities for innovation in the financial sector.
Tokeny CEO Luc Falempin emphasized that digital assets represent a new era of transparency, efficiency, and accessibility. He also noted that more financial institutions are recognizing the potential of public blockchains, and they are excited to collaborate with ABN AMRO.
Colin Butler, Global Head of Institutional Capital at Polygon Labs, suggested that ABN AMRO’s adoption of Polygon demonstrates the growing acceptance of their technology by major firms.
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