Today DekaBank, the German securities provider for savings banks, announced that three savings banks have deployed digital savings bank bonds using the SWIAT blockchain platform. The savings banks of Dortmund, Ludwigsburg, and Schwarzwald-Baar issued the bonds using the DLT registry.
One of the key benefits of the solution is the speed of settlement. Whereas the assignment of title with the paper-based version took up to seven days, it is now possible within seconds.
“Thanks to the faster process compared to the classic product, the digital savings bank letter enables faster and more efficient refinancing. This makes the product more attractive for issuers,” said Sebastian Junker, Deputy Board Member of Sparkasse Dortmund, and Dieter Wizemann, Board Member of Kreissparkasse Ludwigsburg.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
