After the World Bank issued its first $81 million US dollars issuance of blockchain-operated debt instrument (bond-i) a year ago, they have come up with second round of Blockchain bonds this year. This time, the international financial institution could raise $33.8 million US dollars by selling the bond-I according to the news released by the Common Wealth Bank of Australia, which steered the sale jointly with RBC capital markets and TD securities. The bond-I deal happened as the result of the conjoint consent of the new and existing investors.
World Bank has issued $108 million US dollars of these bonds that run on private account of Ethereum Blockchain. Common Bank quotes, “It is the first bond created, allocated, transferred and managed through its life cycle using distributed ledger technology.”
Andrea Dore, the World Bank’s head of funding said, “The World Bank’s innovation and experience in capital markets is the key to working with our member countries to increase digitization to boost productivity in their economies and accelerate progress towards Substantial Development Goals.”
“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,” Sophie Gilder, head of Blockhain and AI at Common Bank said.