The Netherlands, 11th January 2023: APOC Aviation, the innovative leasing, trading, aircraft component and part-out specialist, has become the inaugural commercial client of ABN AMRO to secure investment via blockchain. ABN AMRO is the first bank in Europe to register a digital bond for a mid-sized client on the public blockchain. It was issued to a select group of investors and raised EUR 450,000 for APOC’s aircraft Landing Gear Program.
”This groundbreaking bond is the ideal solution for a tech- and data-focused business like APOC.says Max Lutje Wooldrik – CEO
The entire process of preparing, placing and documenting the bond was digital. Ownership was recorded on the blockchain in the form of tokens that the investors acquired after they had paid for the bond. To ensure custody and security of the investors’ unique keys, ABN AMRO uses a wallet for accessing the digital bond.
ABN AMRO had gained previous experience with digital bonds when it purchased a digital bond from the European Investment Bank (EIB) for reselling. The bank can now draw on that knowledge for client propositions, with APOC being the first.
APOC’s CEO Max Lutje Wooldrik commented, “APOC is a tech- and data-driven company, and the digital bond issued by ABN AMRO is a perfect match. APOC has always explored innovative solutions and we were very successful with crowdfunding, so this is a logical progression for us.”
ABN AMRO’s Chief of Strategy & Innovation, Edwin van Bommel, added, “This updated digital solution for providing our medium-sized and larger commercial clients with leveraged financing fills a gap between traditional bonds and crowdfunding. Thanks to the blockchain, it’s highly efficient and very client-friendly.”