The Eastern German state of Saxony-Anhalt is set to become the country’s first federal state to issue a digital bond, or crypto-security.

The bond will become available in the coming months and is aimed at institutional investors, the state’s Finance Ministry announced in Magdeburg on Thursday.

The final pricing is expected to be determined at the time of issuing.

The technology has so far been adopted mainly by private companies and fintech firms, but now a German state actor is jumping on the bandwagon for the first time.

This gives the entire German digital securities market a boost in terms of trust and credibility.

“We want to seize the opportunities offered by digital technologies at an early stage and gain…