According to CoinDesk report, the World Bank this month settled a $ 73 million blockchain bonds. This will be the Bank’s first settlement of bonds based on blockchain technology.
According to previous media reports, the Commonwealth Bank of Australia (CommBank) was selected by the World Bank as the management of bond issuance in August. The Commonwealth Bank of Australia said the bonds will be traded on August 28.
The two-year bond has a nickname called Bondi, which will be the first time the World Bank has used blockchain as a support technology to implement bonds for automated issuance processes among multiple parties. According to reports, Bondi is expected to bring 2.2 gains.
The Commonwealth Bank’s internal blockchain laboratory will develop a technology platform for the issuance of the bond and use a distributed network to increase the efficiency of bond transactions between sellers, buyers, and banks.
The Commonwealth Bank of Australia further stated in its report that it is comparable to similar projects being tested in the private market. The bond issuance will be the first market activity in the world to use the blockchain to raise funds from public investors.
According to reports, the deal will be part of the World Bank’s annual sales of $50 billion to $60 billion in bonds designed to eradicate poverty and increase the sustainability of global markets.
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