Germany's Bankhaus von der Heydt, established in 1754, is issuing a euro stablecoin on Stellar in partnership with Bitbond, marking the first direct stablecoin issuance by a traditional banking institution on the network.
Bankhaus von der Heydt (BVDH), one of the world's oldest banks founded in 1754, has announced a partnership with fintech firm Bitbond to issue a euro stablecoin directly on the Stellar blockchain. This marks the first stablecoin issuance by a fully licensed banking institution on Stellar. The stablecoin addresses trust concerns with existing stablecoins like Tether and USDC by backing the token with fiat currency held in escrow at BVDH, subject to strict regulatory and KYC requirements. The partnership enables efficient delivery-versus-payment settlement for tokenized securities, with initial use cases targeting German real estate developers seeking to issue tokenized securities with an on-chain payment method.
