Bitbond, the first security token offering in Germany to have its prospectus approved by Bafin, has issued its first on-chain coupon payment according to a tweet.
Bitbond is a unique global online lender that recently completed a security token offering (STO) for a debt offering using the Stellar blockchain. Bitbond raised approximately €2.1 million with participation coming from 87 different countries around the world.
This past July, the security token (BB1) became tradable.
Bitbond announced it had paid out token holders as scheduled. BB1 pays a 4% annual coupon which is distributed quarterly. Additionally, the security token may include up to 60% of Bitbond’s pre-tax profit which may be paid out annually.
While the BB1 issuance was small, and trading volume has been light, Bitbond is a clear pioneer in the emerging digital securities market.
Today is the day! The first coupon payment of the BB1 token is due. This morning we successfully paid out Germany’s first bond coupon on-chain by sending funds to our token holders’ stellar accounts. #pioneers #bitbondsto #tokenizationhttps://t.co/4M0Izw3AHG
— Bitbond (@Bitbond) October 1, 2019
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