Deutsche Bank bond tokenized on the EOS mainnet
The dBonds team recently managed to tokenize Deutsche Bank bond on the EOS mainnet. This has been made possible through their agreement with an authorized UK based custodian, Queen Street Finance, and their stablecoin standard DUSD, already issued on EOS.
How does it work?
- The USD-denominated fiat bond is purchased and deposited into the custodian escrow account.
- The DSUD nominated dbond (DBAAAAA) is issued by thedbondsacc contract at the request of emitent (unitedbridge account)
- This dbond (DBAAAAA) is locked within the thedeposbank and new DUSD are issued respectively, so that the dbond is considered 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." *
Sources:
- dBonds team made an agreement with UK based custodian
- Deutsche Bank bond has been succesfully tokenized on EOS blockchain
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