Secondary Bond Trading Records On Blockchain Technology For Bond-i

An international financial institution called International Bank for Reconstruction and Development aka World Bank has made a partnership with an Australian multinational bank called Commonwealth Bank of Australia (CBA). The main purpose of the partnership is to enable the recording of a secondary bond trading on blockchain technology.

It is unveiled that a secondary market trading is carried out successfully. The secondary market trading is for a new debt instrument called bond-i. It is recorded on the blockchain. Huge potential for the improvement of securities trading coordination and management on the blockchain is illustrated through the secondary market trading. A verified & permanent record and instant reconciliation were delivered.

In 2018, the new debt instrument bond-i is issued by World Bank. Harnessing disruptive technologies potential for development is a purpose of the bond-i project. King & Wood Mallesons is a Law firm who has advised the i-bond project. The bond-i project is expanding and improving constantly. Foundation investors and other capital market partners provided inputs and feedbacks which benefited the bond-i project.

The international financial institution World Bank was set up in 1944. Risk management products, advisory services, loans, and guarantees are offered to middle-income and other creditworthy nations through World Bank. Supporting sustainable development goals, ending extreme poverty, and promoting shared prosperity are purposes behind these offerings. It is belonging to World Bank Group.
The sole arranger for bond-i was CBA. CBA Blockchain Centre of Excellence has developed bond-i. It is located in the Sydney Innovation Lab.
CBA is recognized as a bank for Australian families. It was set up in 1911. Financial services for people, businesses, and communities are provided through CBA. It has 51,000+ employees. It has 800,000+ direct shareholders, the official site of World Bank reported. CBA is also recognized as the leading financial services provider across Australia. It provides the financial services related to retail, premium, business & institutional banking, funds management, superannuation, insurance, investment, and sharebroking products & services, according to the official LinkedIn account of Commonwealth Bank of Australia.
The Head of Experimentation & Commercialisation at CBA Innovation Labs Sophie Gilder said, “There is a growing recognition that blockchain technology can deliver a superior digital market for raising capital and then managing and trading securities, so we are working with our strategic partners to realise that vision.”
Post Disclaimer

This article is for informational purposes only. The information is provided by Secondary Bond Trading Records On Blockchain Technology For Bond-i and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. The Blockchain Cafe does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button