The World Bank has announced that for its blockchain-based “Kangaroo” bond, Bond-i, it has raised $50 million AUD ($33 million USD) from investors. Also, an additional 50 percent to last year’s $74 million. World Bank Raises 33 Million USD Through Blockchain Bonds. Global exchange.
The Kangaroo bond is due in August 2020. According to CommBank, it is “the first bond created, allocated, transferred and managed through its life-cycle. This is using distributed ledger technology.”
Globalexchange. The Kangaroo bond is an overseas bond issued by non-Australian organizations, including governments, corporations, and financial institutions in Australian dollars. Commonwealth Bank of Australia (CBA), RBC Capital Markets (RBC), and TD Securities (TD) administer it.
The World Bank issued AUD 160 million (USD 108 million) of these bonds on a private Ethereum blockchain.
“We are happy to see the continued, strong support and collaboration from investors and partners”. Said Andrea Dore, the World Bank’s head of funding, said in a press release. Globalxchange.
“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. The blockchain technology can deliver a new level of efficiency, transparency, and risk management capability versus the existing market infrastructure. Global exchange. Next, we intend to deliver additional functionality to deliver greater efficiencies in settlement, custody and regulatory compliance,” said Sophie Gilder, Head of Blockchain & AI, Commonwealth Bank of Australia.
World Bank Raises 33 Million USD Through Blockchain Bonds. Earlier, the World Bank revealed the first bond-i issuance of $110 million AUD ($81 million).
The World Bank claims that blockchain technology has the capacity to help streamline and simplify the bond issuance process. Also, advance its mission to eradicate global hunger and poverty. Globalexchange.
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