CBA picked to deliver first blockchain bond

CBA/blockchain/World-Bank/bonds/

image
image
expand image

The Commonwealth Bank (CBA) has been chosen by the World Bank to solely arrange the $AUD Kangaroo bond, the world’s first bond to be created, allocated, transferred and managed using blockchain technology.

Once the Kangaroo bond, termed ‘bond-i’, launches, it will be issued and distributed on a blockchain platform operated by the banks in Washington and Sydney, which CBA’s head of blockchain said was a significant step towards revolutionising the financial services and markets.

Executive general manager of institutional banking and markets, international, at CBA, James Wall, said the bank took a collaborative approach to innovation, and believed this transaction would be “ground-breaking” as a demonstration of how blockchain technology can act as a facilitating platform for different participants.

The World Bank’s treasurer, Arunma Oteh, said given the transformative role of emerging technologies, the bank sought opportunities like this to meet investor and client needs.

“Helping countries transition to technology-led development is key to our goals of reducing poverty and promoting lasting development,” added World Bank group chief information officer, Denis Robitaille.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND