The World Bank has contracted Commonwealth Bank of Australia (CBA) to arrange a bond on the blockchain. CBA states this is the first bond globally where the end-to-end transaction will only be on a blockchain. There have been other blockchain issuances, but in most cases they are mirrors of real-world transactions.
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CBA is giving the bond the nickname ‘bond-i’ which stands for Blockchain Offered New Debt Instrument. The blockchain will be operated in Washington and Sydney by the World Bank and CBA. Additionally, custodian Northern Trust is providing support.
The bond is part of the World Bank’s annual issuance of $50-$60 billion for sustainable development.
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