Whitepaper "DLT-based capital market"
An analysis of the degree of maturity based on the first two blockchain-based digital bonds issued by Kreditanstalt für Wiederaufbau (KfW).
KfW is one of the world's largest issuers on the international capital markets. As part of digitalisation initiatives along the securities issuing process, the bank has issued two blockchain-based bonds.
The white paper, which KPMG prepared in cooperation with KfW, analyses the key findings and insights gained from the blockchain-based issuance of the two electronically and digitally issued bonds. The analysis shows the maturity of the DLT-based capital market and the potential impact of the technology on future financial instruments. It also describes areas for action and solutions that are necessary to further promote the institutional acceptance and integration of DLT technology.