World Bank Prices Blockchain Bond at A$100M

Jermaine Castillo
August 27, 2018

The World Bank has priced what it deems the "world's first public blockchain bond" at AUD$100 million ($73 million) in a settlement to occur next week.

The World Bank said the bond was the first in the world to be "created, allocated, transferred and managed through its life cycle using distributed ledger technology".

The bond-i blockchain platform was built and developed by the CBA Blockchain Centre of Excellence, housed in the Sydney Innovation Lab. "We were no doubt successful in moving from concept to reality because these high-quality investors understood the value of leveraging technology for innovation in capital markets". With the entrant of the World Bank in the blockchain space, the technology may get the big break it needs.

7.1 magnitude natural disaster strikes Peru
The natural disaster hit shortly after 0900 GMT, about 140 kilometers west of the Peruvian town of Iberia, the USGS said. The quake was reported at 5:37 PM PST off the Ndoi Island and struck at a depth of 559.6 kilometres in the Pacific.

Investors included Commonwealth Bank of Australia, First State Super, Northern Trust Corp and Treasury Corp of Victoria.

According to CBA, one of Australia's big four banks, specifics have started to materialize on the project, as the bond-i is now pegged at a two-year maturity term and is set to rake in a 2.251 percent yield.

Interestingly the World Bank press release did not mention a launch date and it is not clear just how close they are to an issue.

Arsenal vs West Ham player ratings: Everyone breathe
His lack of defensive awareness and discipline continues to cost his side and left a gap which West Ham took full advantage of. While the east Londoners are still looking to get off the mark this season, Pellegrini is seeing signs of life at the club.

We welcome the huge interest that this transaction has generated from various stakeholders and will continue to seek ways to leverage emerging technologies to make capital markets more secure and efficient.

The announcement follows the bank's head of blockchain Sophie Gilder revealing in December that CBA was expecting to be the first to implement the issuance of a bond on the blockchain. In short, the new blockchain bond will do everything as such within seconds and on the internet.

The World Bank has launched a blockchain-only bond. The bank's general manager also went on to echo the sentiments of the World Bank Treasurer in saying that the experiment was a success.

India on the brink of victory as England reaches 311 for nine
This series, he has managed just 80 runs from five innings, with a top score of 29, leaving him with an average of just 16. Even then it was Kohli who led the team from the front but was unfortunate to miss his 22nd century by 3 runs.

Microsoft Corp was an independent code reviewer for the bond offering, while TD Securities served as market maker. Last year, the CBA Innovation Lab issued a government bond for the Queensland Treasury Corporation. Earlier this month the Australian bank announced it had been selected by the World Bank to issue the blockchain bond after more than 12 months of development. These "kangaroo bonds" are the bonds which are issued by foreign institutions using the Australian dollar.

Other reports by

Discuss This Article