Daiwa Securities, SBI R3 and Progmat are partnering to create an end-to-end experience for tokenized bond issuance. Daiwa has developed a bond marketing pre-issuance solution using R3’s Corda enterprise blockchain. And it will integrate with Progmat, the tokenization platform founded by MUFG with backing from SMBC, Mizuho, JPX, SBI and others.
Daiwa’s bond solution and Progmat use Corda, hence the involvement of SBI R3. Both Daiwa and Progmat believe the bond marketing solution is not an investment banking value added service and hence hope that other securities firms such as Nomura or SMBC Nikko Securities might adopt the offering, the Nikkei reported.
Daiwa’s Bianca solution aims to automate a very manual process. In pre marketing, the investment bank contacts investors via phone, email or chat to confirm interest in the bond issuance. The result is usually compiled using a spreadsheet. Future planned features include finalizing investor allocations.
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