World Bank Taps Australia’s CommBank to Issue Its First Blockchain Bond

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The World Bank Group has partnered with the Commonwealth Bank of Australia (CommBank) to issue a bond over a blockchain. CommBank, 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 CommBank’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 already has input from investors including Northern Trust, QBE Insurance and Treasury Corporation of Victoria. The World Bank’s treasurer, Arunma Oteh, said in the release that the tech has been prepared for the launch after a