World Bank has commissioned Commonwealth Bank to develop world’s first blockchain bond

By Galia Ilan

The World Bank has mandated the Commonwealth Bank of Australia (CBA) to arrange the first blockchain bond in the world.

CBA will organise for the bond to be created, allocated, transferred and managed throughout its lifecycle.

“Today, we believe that emerging technologies, equally offer transformative, yet prudent possibilities for us to continue to innovate, respond to investor needs and strengthen markets,” stated Arunma Oteh, Treasurer at the Wold Bank.

“We are therefore delighted that after working with our information technology colleagues and the Commonwealth Bank of Australia over several months, that we are now in a position to launch our first blockchain bond transaction.”

SEE ALSO:

Our goal is to continue to harness innovation for the benefit of markets and our mission of ending poverty and boosting shared prosperity.”

The bond, which has been dubbed bond-i, has received strong interest from investors, the World Bank claims in a press release.

“We know blockchain has the potential to revolutionize financial services and markets, and this transaction is a significant step towards that future state,” remarked Sophie Gilder, Head of Blockchain at Innovation Labs at CBA.

“By working collaboratively with the World Bank, we were able to find solutions to technical and legal considerations to make this ground-breaking transaction a reality.”

Share

Featured Articles

Welcome to the New Age of the CISO

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the new age of the CISO

Making the UAE the world’s strongest digital fortress

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on visionary plans to build the world’s most secure digital society

World Mental Health Day – 10 apps to improve wellbeing

Employers should recognise the growing use of apps to help support mental health – here are 10 to consider on World Mental Health Day

Exec interview: Brook Sims, COO, MAC Diversity Recruiters

Leadership & Strategy

Best new books that will make you a better leader

Leadership & Strategy

5 Mins With: Jeff Li, founder and CEO of Shoplazza

Leadership & Strategy