Under the deal, Boerse Stuttgart Digital will manage wallets and secure private keys throughout the issuance and redemption processes of the crypto security planned by KfW in the coming weeks.The blockchain-based transaction will be carried out by a bookrunner consortium consisting of DZ Bank, Deutsche Bank, LBBW and Bankhaus Metzler, with Union Investments enlisted as an achor investor.Ulli Spankowski, managing director of Boerse Stuttgart Digital, says: "As a pioneer in digital assets, we aim to significantly shape the digital European market infrastructure. The expansion of our offering for institutional clients and our involvement in KfW’s next blockchain-based digital bond mark a milestone in the digital transformation of the financial sector."The KfW transaction will form part of the European Central Bank’s (ECB) EU-wide tests for the settlement of blockchain-based financial transactions against central bank money."The utilisation of new technologies as part of the ECB trials enables us to technically process a ’delivery vs. payment’ transaction and thus supports our digital learning journey," says Gaetano Panno, head of transaction management at KfW. "We are pleased that Boerse Stuttgart Digital is paving the way for a future of blockchain-based securities together with KfW. As a fully regulated provider Boerse Stuttgart Digital is a trusted partner for our upcoming transaction."