Categories: Ethereum

World Bank issues second tranche of Ethereum blockchain kangaroo bond

Click here to view original web page at micky.com.au
'Kangaroo bond' is the name given to a foreign bond, issued in the Australian market and denominated in Australian dollars.

An additional AU$50m has been raised for the World Bank’s ‘kangaroo bond’ – the first bond created, allocated, transferred and managed completely using blockchain technology.

The further investments in the bond, which is being delivered by Australia’s Commonwealth Bank on the Ethereum blockchain, have been from a new ‘off-shore investor’ and from existing investors, including the New South Wales Government.

The the total capital raised for the blockchain bond has now grown to AU$160 million, which the Commonwealth Bank says will further enable capital markets to leverage distributed ledger technologies for faster, more efficient, and more secure transactions.

“The tap is an important milestone in demonstrating the full lifecycle management of an issuer’s capital markets needs,” said James Wall, Executive General Manager International at Commonwealth Bank.

“CBA now has tangible evidence from our first bond offering using blockchain technology and subsequent bond management, secondary trading and tap issue via the same platform, that blockchain technology can deliver a new level of efficiency, transparency and risk management capability versus the existing market infrastructure,” added Sophie Gilder, Head of Blockchain & AI, Commonwealth Bank of Australia.

“Next we intend to deliver additional functionality to deliver greater efficiencies in settlement, custody and regulatory compliance.”

The two-year bond is due in August 2020.

World Bank: ‘Bond-I’ could lead to poverty reduction

The World Bank says the blockchain kangaroo bond is part of a broader to harness the potential of disruptive technologies to benefit World Bank clients.

The World Bank established a blockchain innovation lab in 2017, to explore how developing countries could use blockchain and other disruptive technologies in areas such as land administration, supply chain management, health, education, cross-border payments, and carbon market trading.

“We are happy to see the continued, strong support and collaboration from investors and partners. The World Bank’s innovation and experience in the capital markets is key to working with our member countries to increase digitisation to boost productivity in their economies and accelerate progress towards the Sustainable Development Goals,” said Andrea Dore, World Bank Head of Funding.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin Price Chart Forecast: BTCUSD Awaits Pennant Breakout

Bitcoin Price Forecast: A series of lower highs and slightly higher lows has formed a pennant pattern Regardless of direction,… Read More

2 hours ago

Billionaire Blackstone CEO Heaped Praise On Blockchain—But Made A Bitcoin Warning

Bitcoin has won over many from the traditional finance industry , but far more of the investment old guard remain… Read More

2 hours ago

Early Ethereum advisor charged with extortion and arrested

The accused, Steven Nerayoff, violated the agreement made with a blockchain firm. If found guilty, Nerayoff and his associate Michael… Read More

2 hours ago

CME Group Reveals Plan for Bitcoin Options in Q1 2020

Leading derivatives exchange operator, CME Group announced in a press release today that it will launch options on its bitcoin… Read More

8 hours ago

Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as… Read More

8 hours ago

IBM Stock Gets a Blockchain Pop

IBM (NYSE: IBM ) investors haven’t had all that much to complain about in 2019. After a precipitous drop over… Read More

8 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More