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Bitbond Meets with Gov. of Bermuda to Issue Digital Bond
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The German-based peer-to-peer lender Bitbond is visiting Bermuda this week to negotiating possibly issuing a digital bond in the country. Last month, the project announced a plan to cooperate with the Gibraltar Stock Exchange.
Bitbond, which held an STO earlier this year, has been setting their sights on Bermuda where the company plans to issue a digital bond.
Raising €2.1 million for digital bonds during their STO, the company is looking to expand its compliant assets. The Premier of Bermuda, David Burt, recently tweeted that the government is meeting with Bitbond CEO Radoslav Albrecht. The topic of conversation will be on issuing bonds via blockchain technology in the country.
I met with @RadkoAlbrecht, CEO & Founder of Bitbond, a #FinTech company that utilizes #blockchain to provide innovative financial solutions. The @BdaGovernmentis exploring how #Bermuda can issue bonds on a global basis utilizing blockchain technology. pic.twitter.com/ANHlcrgxuy
— Premier David Burt (@BermudaPremier) August 15, 2019
Bermuda is a small country, but it can push forward the digital ecosystem nonetheless. If Bitbond is able to successfully issue the bonds in the country, it would certainly create a new vertical for the company to provide capital to Bermuda’s markets.
Other crypto-firms have also been eyeing Bermuda. FOr example, Circle announced it obtained a license there to serve non-US customers.
Do digital bonds on blockchain technology have potential? Let us know your thoughts on this development in the comments below.
Image courtesy of Bermuda.com.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
