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Boerse Stuttgart Digital partners KfW for digital bonds

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Government-owned development bank KfW is preparing to issue its second bond utilizing Distributed Ledger Technology (DLT) in the coming weeks. This issuance will feature a digital bond, with Boerse Stuttgart Digital providing the essential wallet and private key infrastructure for the bond’s issuance and redemption processes. This initiative is part of KfW’s broader participation in the European Central Bank’s (ECB) wholesale DLT settlement trials, where transactions will be settled in central bank money.

KfW has been a pioneer in the digital bond space, having previously issued a €100 million DLT bond on the Polygon blockchain in July, following the regulations of the German Electronic Securities Act (eWpG). This bond was managed cautiously, with DZ Bank acting as the collective registered holder on behalf of investors. Additionally, KfW issued another significant digital bond valued at €4 billion through a central securities depository (CSD).

Gaetano Panno, Head of Transaction Management at KfW, highlighted the significance of utilizing new technologies within the ECB trials. Specifically, the ability to technically execute a “delivery versus payment” (DvP) transaction—a simultaneous exchange of securities and payments—underscores the advantages of blockchain technology, particularly in reducing counterparty risk.

Boerse Stuttgart Group, which is also participating in the ECB’s DLT settlement trials, has developed a settlement solution and will be conducting settlement tests using the Bundesbank’s trigger solution. This solution connects to the TARGET 2 payment system and leverages the same wallet and private key infrastructure provided for KfW’s bond issuance.

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Ulli Spankowski, Managing Director of Boerse Stuttgart Digital, emphasized the company’s role in shaping the digital transformation of the European financial market infrastructure. The company’s involvement in KfW’s upcoming blockchain-based bond issuance is considered a significant milestone in this digital evolution.

Looking forward, Boerse Stuttgart plans to launch a secondary market for digital securities, BX Digital, later this year, which will be based in Switzerland rather than Germany. While Germany’s eWpG facilitates the issuance of DLT securities, the European Union’s regulations still require a central securities depository (CSD) for the settlement of secondary market transactions. The EU’s DLT Pilot Regime does allow for trading and settlement on the same platform, but any operator of such a settlement system must still obtain CSD registration. As of April, no platforms had received this authorization, though four were in the process of registration.

Source: ledgerinsights.com

The post Boerse Stuttgart Digital partners KfW for digital bonds appeared first on HIPTHER Alerts.

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Blockchain

Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision

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Alpine Web3 and Everdome are joining forces to push the boundaries of fan engagement through immersive digital experiences. Building on Alpine’s storied motorsport legacy, this partnership will bring fans closer to the action with metaverse pop-up spaces and interactive events.

As Alpine Web3 shifts its focus beyond motorsport, this collaboration aims to redefine sports marketing by merging the physical and digital worlds, offering fans a dynamic and innovative way to connect with their favorite teams and events.

Alpine is a brand with a long and successful history, founded in 1955 by Jean Rédélé and quickly building success across multiple motorsports disciplines. With titles across multiple motor racing disciplines such as the World Rally Championship, 24 Hours of Le Mans, success in F1® racing and the FIA WEC Endurance World Championship, Alpine has constantly innovated for success.

Now Alpine seeks to expand their innovation beyond motorsport, looking for ways to engage new audiences with experiential sports marketing as the real and digital worlds converge.

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This two-way partnership will see Everdome work on a variety of experiential Alpine focussed destinations, kicking off with a series of metaverse pop-up spaces for Alpine Web3, released to coincide with the major sporting events across their race calendar, from Formula One® and beyond.

Everdome will also create interactive events with Alpine Web3 and their partners, allowing global audiences to take one step closer to the action as we explore the future of sports fan engagement together.

Last year, Everdome and Alpine first collaborated with an exclusive metaverse AMA with their F1® driver Pierre Gasly and Binance Fan Token, creating an interactive event where the audience could join with their avatar-likenesses inside a unique environment, bringing them closer to their racing heroes inside a digital world.

“Experiential marketing is on the rise as audiences react positively to immersive, interactive experiences which bring a feeling of deeper involvement with their sporting teams and heroes.’’ said Artur Kaczmarczyk, Chief Growth Officer for Everdome. “This new partnership will explore a future of sports fan engagement, creating a series of activations across the motorsports racing calendar to let global Alpine fans feel closer to the team, drivers and brand.’’

Beginning with metaverse spaces highlighting images and videos from Alpine inside fully interactive, avatar-led digital environments, Everdome will go on to create a dedicated and permanent metaverse footprint for Alpine Racing inside their digital headquarters, showcasing their glorious history, exciting present and promising future.

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“This collaboration with Everdome underlines our commitment to constant innovation through leveraging the latest technology”, said Guillaume Vergnas, Head of Merchandising, Licensing, Esports & Web3 at Alpine. ‘’Motorsport has always been about passion, spectacle and interaction, and with Everdome we seek to allow audiences a taste of the spectacle in a novel digital world.’’

Everdome will introduce their large community of web3 followers and metaverse pioneers to Alpine’s exciting web3 ecosystem, paving the way for some exciting cross-project collaborations, activations and more across 2024 and beyond.

The post Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision appeared first on HIPTHER Alerts.

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Blockchain Technology Market Size to Achieve USD 1,879.30 Billion by 2034

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Blockchain Technology in BFSI Market Is Expected To Reach a Revenue Of USD 258.2 Bn By 2033, at 46.0% CAGR: Dimension Market Research

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