The Bank of Canada provided wholesale central bank digital currency (wCBDC) for a live digital bond issuance by Export Development Canada (EDC), marking Canada’s first tokenized bond settled in central bank money. The C$100 million (US$73m), sub-three month bond, arranged by RBC Capital Markets and TD Securities and sold to a closed investor group, was issued, traded and settled on a purpose built distributed ledger platform called Samara. Settlement used a wholesale Canadian dollar token (W-CAD) minted by the Bank of Canada with atomic settlement.
The project builds on the Bank of Canada’s Project Jasper series, which was genuinely pioneering when it launched in 2016. Nearly a decade on, Canada is playing catch up.
EDC described the issuance as “an important step in deepening our understanding of tokenization and distributed ledger technology and how it can contribute to the efficiency and security of financial instruments.”
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