Toyota Leasing first to issue blockchain bonds in Thailand - Ledger Insights

Toyota Leasing (Thailand) became the first company to issue a corporate bond using the Thai Bond Market Association’s blockchain platform. The network operates under the Securities and Exchange Commission’s (SEC) regulatory sandbox and is supported by the Bank of Thailand. Last month, Toyota, a unit of Toyota Motor Thailand, issued the 500 million baht ($16.4 million) bond to institutional investors and high net-worth individuals, a Bangkok Post report said. Bangkok Bank is the underwriter for the bond and Bank of Ayudhya represented the debenture holder for the pilot project. A few months ago, Ledger Insights reported on the Thailand Bond Market Association’s (TBMA) announcement to adopt blockchain for bond registration and tokenize bonds for faster settlement. At present, banks and securities traders act as bond registrars. However, with blockchain, ownership is recorded in a shared place so these firms can see holdings in real-time and expedite the process of bond transactions to three days from 15 days.

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