bond-i blockchain bond
The World Bank, in conjunction with the Commonwealth Bank of Australia, has launched the world's first bond to be created, allocated, transferred and managed through its life cycle using blockchain, or distributed ledger technology.
The World Bank mandated Commonwealth Bank of Australia (CBA) as arranger for the bond on August 10, 2018.
The bond-i (blockchain operated new debt instrument) has raised A$110 million, and initial investors include CBA, First State Super, NSW Treasury Corporation, Northern Trust, QBE, SAFA, and Treasury Corporation of Victoria.
Arunma Oteh, World Bank Treasurer, said: “I am delighted that this pioneer bond transaction using the distributed ledger technology, bond-i, was extremely well received by investors."
The World Bank issues between US$50-US$60 billion annually in bonds for sustainable development.