Siemens and Samsung are making notable advances in the Web3 space through innovative financial tools and strategic investments.
German tech powerhouse Siemens has launched its second digital bond, valued at €300 million, marking a significant move in the blockchain arena.
Announced on September 4, the bond leverages SWIAT’s private blockchain and utilizes the Bundesbank’s Trigger Solution for settlement.
This bond, which matures in a year, was fully automated and settled in central bank money, showcasing Siemens’ commitment to digital finance.
The issuance follows Siemens’ initial foray into digital bonds with a €60 million offering in February 2023. According to Siemens CFO Ralf P. Thomas, this new bond shows their dedication to driving innovation and digital solutions in the financial sector.
Additionally, the bond aligns with European Central Bank trials of distributed ledger technology (DLT) for securities settlement.
Meanwhile, Samsung Next, the venture capital branch of South Korea’s Samsung, has invested in Startale Labs, a Singapore-based Web3 startup.
The investment is part of the Soneium Spark program and aims to bolster the development of decentralized applications (dApps) and smart contracts.
Startale Labs offers vital tools such as Astar Network and Startale Cloud Services, designed to lower entry barriers and enhance interoperability in the Web3 space.
John Yim from Samsung Next highlighted that Startale Labs’ solutions simplify the Web3 development process, making it more accessible for developers and businesses alike.
Sota Watanabe, founder of Startale Labs, emphasized that their approach focuses on solving real-world problems rather than being driven purely by technological advancement.
