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Commerzbank completes securities transaction test on blockchain

Commerzbank completes securities transaction test on blockchain

February 22, 2019

The transaction had a volume of €100,000 and a term of three days.

Continental was the issuer of the money market security, a euro-denominated electronic commercial paper, according to legal requirements stipulated in the Luxembourg law.

The bank provided R3’s Corda-based blockchain platform through its research and development unit, Main Incubator, and acted as a service partner.

Siemens subscribed to the money market security as an investor, and corporate law firm GSK Stockmann provided legal advice on the transaction.

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