Last year Singapore startup BondEvalue announced a collaboration with Northern Trust to develop a blockchain-based bond marketplace. Yesterday saw the first transaction, a transfer of an $8,000 interest in a tokenized bond from agribusiness Olam. The tokenized bonds are referred to as BondbloX.
A key aim is to enable a wider distribution of bonds that are usually sold in high denominations. By enabling fractional ownership of as little as $1,000, BondEvalue hopes to attract so-called HENRYs, high earners not rich yet, as investors.
“We believe BondbloX will be an industry game changer. Our vision is to have over 25 million people in Asia invest in bonds in the next five years, from 500,000 individuals currently,” said BondEvalue’s Founder and CEO, Rahul Banerjee. “This is no small ambition but we are hopeful as we have seen millions of people, forced by Covid-19 lockdowns, going online in the last six months for their everyday transactions.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
