Today Nomura Research Institute (NRI) offered the first Japanese blockchain-based digital bonds directly to investors. Last year NRI and Nomura Holdings created a joint venture BOOSTRY to develop a tokenized asset platform called ibet.
Two bonds were issued, with one of them referred to as a digital asset bond. Instead of paying interest, it provided redeemable points – the digital asset – for buying coffee. This was a 25 million yen ($232,000) bond with a three month maturity. The second five million yen bond was more conventional, offering a low interest rate.
Usually, issuing corporate bonds is a costly process involving significant admin. By using a blockchain, it lowers the barriers to entry and can make smaller bond denominations more viable. It also introduces the possibility of innovation, as demonstrated by the digital asset bond.
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