World Bank Taps Australia's CommBank to Issue Its First Blockchain Bond
The World Bank Group has partnered with the Commonwealth Bank of Australia (CBA) to issue a bond using blockchain. The CBA, one of the “Big Four” commercial banks in Australia, said in a release on Friday that it had won a mandate from the World Bank to arrange the issuance of the bond, which will be created, transferred and managed via a blockchain platform. The technology, already developed by CBA’s in-house blockchain lab, aims to have key parties in a bond issuance process such as investors and banks to be participating nodes in a distributed network. In this way, capital for the bond can be raised and transacted more efficiently. Called bond-i, the debt issuance sees input from investors including Northern Trust, QBE Insurance and Treasury Corporation of Victoria. World Bank’s treasurer Arunma Oteh said in the release that the technology is in the position for the launch after a
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