World’s First Blockchain Bond Raises $81 Million
Bond-i, the Blockchain Offered New Debt Instrument, has officially been launched by the World Bank, raising $110 million AUD, approximately $81 million USD. Bond-i is the world's first blockchain bond; it's creation, allocation, transference, and management will all be accomplished through blockchain technology.
According to the press release, the bond's investors include CBA, First State Super, NSW Treasury Corporation, Northern Trust, QBE, SAFA, and Treasury Corporation of Victoria. The international lender specifically partnered with the Commonwealth Bank of Australia (CBA) to manage the bond.
Bond-i will use a private Ethereum blockchain, the CBA revealed earlier this month, stating, "Ethereum currently has the largest and most active development community globally, and offers the functionality we require. However other blockchains are developing rapidly and CBA remains open to other options in the future."
Arunma Oteh, World Bank Treasurer:
“I am delighted that this pioneer bond transaction using the distributed ledger technology, bond-i, was extremely well received by investors. We are particularly impressed with the breath of interest from official institutions, fund managers, and banks. 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."
The bond has generated "huge interest" from stakeholders, says Oteh. Additionally, James Wall, Executive General Manager of CBA, echoes her sentiments, saying, "the interest we’ve received for bond-i has been overwhelming."
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