WB Appoints Commonwealth Bank of Australia to Issue World’s First Blockchain Bond

10 Aug 2018

WB Appoints Commonwealth Bank of Australia to Issue World’s First Blockchain Bond

The World Bank has signed a deal with Commonwealth Bank of Australia (CBA) to arrange the issuing of its first blockchain-based bond, the global financial institution said in a press release on Thursday. The World Bank chose the cryptocurrency technology as a new way of achieving its mission to fight economic inequality and poverty around the world.

According to the press-release, the bond will be the first in the world to be created, allocated, transferred and managed with blockchain technology. Dubbed ‘bond-i’, the instrument will be based on the A$ Kangaroo bond, which is the Australian financial instrument for foreign-based entities that aim to issue debt in Australian dollars but want the funding to be in foreign currency, not in AUD.

The World Bank, whi...This article appeared first on Cryptovest

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