World’s first blockchain bond raises $80mn

Two weeks after the World Bank announced that the Commonwealth Bank of Australia (CBA) was mandated with the launch of bond-i, the world’s first bond to be created, allocated, transferred and managed through its lifecycle using distributed ledger technology, the two-year bond has raised A$110 million (USD$80mn), which exceeded market expectations, according to a company statement. Investors in the bond include CBA, First State Super, NSW Treasury Corporation, Northern Trust, QBE, SAFA, and Treasury Corporation of Victoria. Service providers to the bond’s platform include TD Securities as market maker, IHS Markit as independent valuation provider, and Microsoft as independent code reviewer.

This launch also marks the first time that investors have supported the World Bank’s development activities in a transaction that is fully managed using the blockchain technology. The ‘bond-i’ bond forms part of a broader strategic focus of the World Bank to harness the potential of disruptive technologies for development. In June 2017, the World Bank launched a Blockchain Innovation Lab to understand the impact of blockchain and other disruptive technologies in areas such as land administration, supply chain management, health, education, cross-border payments, and carbon market trading. CBA and the World Bank will continue to welcome investor interest in the bond throughout its life cycle, and enquiries from other market participants in relation to the platform.

Read the full release

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