Germany's digital currency makes a captivating turn of events
In a groundbreaking move, the German defense startup Donaustahl has issued a crypto security bond last week through the app "tacct" by ecrop. The bond, offering up to 8.4% interest per annum, aims to raise up to eight million euros for the company.
Donaustahl, known for producing FPV drones, electronics, and effective means widely used in Ukraine, is facing challenges in securing traditional funding due to banks' hesitance and statutes prohibiting financing of war weapons. The crypto security bond offers a viable solution, providing Donaustahl with control options to filter investors based on origin and refuse transfers.
The bond increases the company's equity rather than appearing as liabilities like a loan in the balance sheet. This innovative funding method could make the process simpler, faster, and cheaper for Donaustahl, potentially making Bitcoin more attractive in Germany.
ecrop, the company managing the bond, also manages a decentralized ledger-a blockchain-where electronic securities are stored and transferred as tokens. However, they use a private version of Ethereum instead of a public blockchain due to regulatory reasons.
The "tacct" app, a fully integrated digital platform, not only facilitates investment in Donaustahl but also in other European defense startups. Most of the companies in the pipeline produce drones, semiconductors, ammunition, software, and AI systems. An additional 20 defense-focused startups are planned to be financed after Donaustahl on the tacct platform, although they are not explicitly listed in the provided search results.
ecrop's OmniPersona app allows users to use their KYC verification for other apps or platforms. With OmniPersona, ecrop launched an app for transferable identity verification of customers, aimed at making crypto securities interoperable. This could solve the problem of having to reverify for each platform by allowing login through a single app.
Payment for crypto securities on the tacct app is automatically debited from the bank account stored with OmniPersona. Investors can also reclaim part of future taxes and debts through the Donaustahl bond.
Stefan Thumann, CEO of Donaustahl, decided to issue a bond as a crypto security as it is the easiest and fastest method to raise money from their community. ecrop plans to integrate other payment methods, including Bitcoin and other cryptocurrencies, in the future.
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