World Bank launches world-first blockchain bond(reuters.com)
reuters.com
World Bank launches world-first blockchain bond
https://www.reuters.com/article/us-worldbank-cba-blockchain/world-bank-launches-world-first-blockchain-bond-idUSKCN1L80DP
https://www.reuters.com/article/us-worldbank-cba-blockchain/world-bank-launches-world-first-blockchain-bond-idUSKCN1L80DP
The prototype deal, dubbed a “Bondi” bond - standing for Blockchain Operated New Debt Instrument as well as a reference to Australia’s most famous beach - is being viewed as an initial step in moving bond sales away from manual processes towards faster and cheaper automation.
Earlier this year Russia’s MTS, a telecoms operator, and Sberbank claimed a world-first blockchain bond.The deal, for 750 million rubles ($11.20 million) of 182-day paper, was however privately placed, rather than offered for wider auction, as is the norm and the case with the World Bank deal.
CBA set the price for the “kangaroo” deal at 23 basis points above benchmark rates. Kangaroo bonds are bonds issued in Australian dollars by foreign institutions.