Bitbond partners with solarisBank for Germany’s first Security Token Offering

For its upcoming Security Token Offering (STO), global SME lending platform Bitbond today announced a partnership with solarisBank, the Berlin-based technology platform with a banking license.

Bitbond accepts bank account wires as well as the cryptocurrencies Stellar Lumens, Bitcoin and Ether as a means of payment for the tokenized bond offering. To process bank transfers efficiently, Bitbond partners with solarisBank to leverage their Blockchain Factory.

The announced partnership ensures that Bitbond will have a secure German bank by its side during the Bitbond STO.

Over the next 3 months, solarisBank’s Blockchain Factory will be working closely with Bitbond to provide all Bitbond STO investors with individual IBAN numbers to deposit their investment. This will enable Bitbond to seamlessly allocate payments to investors.

Additionally, Bitbond can access their solarisBank account via an API connection, meaning that payments can be allocated in real time. The API connection and individual IBAN numbers will, therefore, play a crucial role in tracking fiat payments during the Bitbond STO.

On March 11th, Bitbond will be launching Germany’s first Security Token Offering with a prospectus that is approved by the German financial regulator BaFin. Thus, Bitbond is the first in Germany to issue a comprehensively regulated security token.

According to the BaFin approved prospectus, all token holders will receive fixed quarterly coupon payments, as well as a variable annual coupon. The Bitbond token has a maturity period of ten years, meaning that Bitbond is legally committed to buying back the BB1 token at its original value of €1 after ten years.

In regards to this partnership, Founder and CEO of Bitbond Radoslav Albrecht said “We are delighted to be working so closely with another innovator in the financial industry. This partnership will ensure both crypto & fiat STO investors will be equally tracked and can invest in the Bitbond STO in a secure manner.”

While the Chief commercial officer of solarisBank, Jörg Diewald stated “We are excited to be providing our support and expertise during such a groundbreaking project. Innovation in the financial space is key to growth and solarisBank is contributing to this growth by facilitating projects like the Bitbond STO”.