## KfW Makes First Foray into Crypto Securities with $11.4 Million Investment German state-owned development bank KfW (Kreditanstalt fuer Wiederaufbau) has entered the crypto securities market with a €10 million ($11.4 million) investment. This marks KfW's initial venture into blockchain-based assets, signaling growing institutional acceptance of crypto finance. The investment involves blockchain-based covered bonds issued by Berlin Hyp, a German mortgage bank. These €100 million bonds are the first crypto securities to be issued under the German Electronic Securities Act (eWpG), enabling direct distribution on the blockchain, bypassing traditional central depositories. KfW purchased the bonds over-the-counter. KfW's move mirrors other government-backed financial institutions and suggests a broader trend of exploring blockchain technology for increased efficiency and transparency in financial markets. As regulations surrounding crypto securities become clearer, further institutional investment is expected to follow. ```
