Six months ago Russian telecoms company MTS
issued a bond on the National Settlement Depository’s (NSD) blockchain. Russia’s largest bank, Sberbank, both organized and purchased the issue. Today the NSD
announced that the RUB 750 million bond has been redeemed. Hence smart contracts were used for the full life cycle from placement to settlement.
The pilot used a full Delivery versus Payment (DVP) settlement model enabling the simultaneous transfer of the bond and funds.
The NSD developed the blockchain platform using Hyperledger Fabric 1.1. The Central Securities Depositary and the investor had access to the platform.
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