Yesterday the International Bank for Reconstruction and Development (World Bank) and the Commonwealth Bank of Australia (CBA)
announced that they’ve enabled the secondary trades of the World Bank’s bond-i bond to be recorded on a blockchain. Nine months ago CBA arranged the
Blockchain Offered New Debt Instrument (bond-i) issuance of A$110 million (US $76m). It’s part of the World Bank’s annual $50-$60 billion bond issuance.
“Enabling secondary trading [to be] recorded on the blockchain is a tremendous step forward towards enabling capital markets to leverage distributed ledger technologies for faster, more efficient, and more secure transactions,” said World Bank VP and Treasurer Jingdong Hua. “It speaks to the innovation and commitment of all our partners, including investors, that we were able to achieve this together.”
The bond-i platform is a permissioned network with nodes in Sydney and Washington. It features automated bond auction, bookbuild and allocation. Plus it has electronic bid capture and real-time updates.
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