The Bankhaus von der Heydt, a German-based private bank, has partnered with Bitbond to incorporate blockchain in its asset structuring as well as asset servicing.
Bitbond is a global marketplace lending platform for small business loans, and specializes in providing blockchain-based solutions for financial markets. They also provide online lending and tokenization services.
According to Philipp Doppelhammer, managing director of the Bankhaus von der Heydt (emphasis added):
We have been observing the blockchain space with regards to financial service solutions for quite some time now as we believe that it will offer our clients outstanding added value. We are therefore very pleased that asset tokenization is now ready for the market from a regulatory and technological perspective and hope that, as one of the first providers of digital asset custody solutions in the market, we will gain a decisive strategic advantage over large and less agile universal banks.
Radoslav Albrecht, the CEO and founder of Bitbond says this is the first deal to integrate the blockchain with securities and private placements
We are working with several banks and financial intermediaries on various projects in the field of tokenization and custody of digital assets. We are particularly pleased to cooperate with von der Heydt, as the bank is one of the first to use blockchain technology in the area of securitization and private placements.
Bankhaus von der Heydt also offer securitization services, and according to the bank’s website, the services offer “modern solutions to make a wide variety of assets liquid.” Bitbond says the bank also plans to issue security tokens and develop its own Euro-backed stablecoin.
In December 2019, the German parliament passed the 'Law Implementing the Amending Directive to the Fourth EU Money Laundering Directive', allowing banks to buy, sell, and store digital assets. It is interesting to see the Bankhaus von der Heydt (with the assistance of Bitbond) being the first to capitalize on this novel opportunity in Germany.