World Bank and CBA enable secondary market bond trading on the blockchain

The World Bank’s International Bank for Reconstruction and Development has enabled secondary market trading of bonds on the blockchain, in partnership with Commonwealth Bank of Australia.

The ability to create and trade CBA’s bond-i (blockchain operated new debt instrument) on a blockchain based platform makes the bond the first in the world whose issuance and trading are recorded using distributed ledger technologies.

The completion of secondary transactions with trading activity recorded on a distributed ledger illustrates the “vast potential to enhance the co-ordination of securities trading and management on blockchain” the organisations said.

The functionality of bond-i (pronounced as in the Sydney beach) was developed by CBA’s Blockchain Centre of Excellence in conjunction with World Bank and market maker TD Securities. The bonds are issued and tracked using an associated platform which features an automated bond auction, bookbuild and allocation; electronic bid capture; an auditable and immutable transaction record; and real time updates and enhanced visibility according to participant’s permissions.

CBA and World Bank launched bond-i in August last year, the world’s first bond to be created, allocated, transferred and managed through its life cycle using distributed ledger technology.


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