Bafin approves Bitbond to issue digital bonds

Wednesday 20 February 2019 10:57 CET | News

Bafin, Germany’s securities regulator, has given the green light to Bitbond, an online lending platform that operates globally, to issue digital bonds.

The lending platform provides small businesses access to capital. Since the platform’s launch in 2013, Bitbond has funded over 3200 loans for more than USD 15 million, according to the Crowd Fund Insider. The fintech has targeted ecommerce businesses that operate on the Amazon marketplace or eBay. Bitbond received a license from Bafin in 2016.

Now, the fintech is launching a security token offering (STO), with the Bitbond Token (BB1), based on Stellar, aiming to make business lending globally accessible. According to an interview with Handelsblatt, Bitbond CEO and founder announced that their STO has been approved by Bafin and that they are currently in negotiations with several established banks about providing finance.

The Bitbond STO is accepting names on a whitelist now with the offering expected to commence in mid-March 2019.

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Keywords: BaFin, STO, tokens, Germany, cryptocurrency, BitBond, lending, authorisation
Countries: World