• Thu, 22 Aug 2019, 09:30 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Bond-i: World Bank, CBA record secondary bond market trade using blockchain

Image Source: AP

Thu, 16 May 2019, 10:50 am UTC

The World Bank and Commonwealth Bank (CBA) have successfully recorded a secondary bond market trade on a blockchain, according to a press release dated May 16.

This marks the next phase of the bond-i (blockchain operated new debt instrument) project announced last year. Built using the Ethereum blockchain, the bond-i blockchain platform was built and developed by the CBA Blockchain Centre of Excellence, housed in the Sydney Innovation Lab.

In August 2018, the World Bank raised $110 million via bond-i, which became the world’s first bond to be created, allocated, transferred and managed through its life cycle using distributed ledger technology. CBA was the sole arranger for the bond.

The project partners have now completed a secondary transaction for bond-i with the trading activity recorded on a distributed ledger, which saw a verified, permanent record and instant reconciliation.

“Enabling secondary trading 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 Vice President 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.”

CBA said the functionality was developed in collaboration with the World Bank and market maker TD Securities. King & Wood Mallesons are the legal counsel for the project, which also benefits from an independent code review by Microsoft. IHS Markit provided independent valuations.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,996.80 (-1.91%)
  • Ethereum (ETH) $186.65 (-0.78%)
  • XRP (XRP) $0.264200 (-0.52%)
  • Bitcoin Cash (BCH) $298.02 (-0.74%)
  • Litecoin (LTC) $72.74 (+0.57%)
  • Bitcoin (BTC) $9,996.80 (-1.91%)
Aug 22, 2019 (Thursday)
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
07:24
Travelport, IBM, BCD Travel to develop blockchain solution for hotel commissions
07:19
Trade.io ends relationship with Forbes CryptoMarkets portal
06:25
Winklevoss twins-owned crypto exchange Gemini expands to Australia
06:20
South Korea’s Woori Financial to develop blockchain-based financial services with Ground X
06:17
Crypto Technicals: Bitcoin Gold hits 5-month lows below $13, momentum studies bearish
05:39
Digital securities platform Securitize becomes SEC-registered transfer agent
04:01
Indian Supreme Court grills RBI for cryptocurrency banking ban
03:49
Cryptopia customers did not have individual wallets; liquidator Grant Thornton to manually determine crypto ownership
03:34
Korean crypto exchange Prixbit shuts down over financial crisis
03:31
Crypto Technicals: BTC/USD below $10K, breach of 'Symmetric Triangle' could plummet prices further
Aug 21, 2019 (Wednesday)
12:56
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:27
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:25
European Commission looks into “potential anti-competitive behavior” of Facebook's Libra: Report
11:10
Thailand’s Siam Cement Group seeks to expand Corda-based ‘Procure to Pay’ solution to 2,400 suppliers by 2020
10:40
Crypto Technicals: BCH/USD rejected at cloud, violation at 200-DMA to open up downside
10:21
Blockchain settlement startup Fnality adds former UBS and IMF executives to management team
09:17
Austrian telecom giant A1 to offer cryptocurrency payment option
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft