Overwhelming Response to World’s First Blockchain Bond

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The world’s first public bond created and managed using onlyblockchain had support from seven investors, Commonwealth Bank of Australia the sole lead manager of the deal said on Friday, helping raise A$110 million ($80.48 million) for the World Bank.

Commonwealth Bank (CBA) executive general manager James Wall said that the deal, designed to test how the technology might improve decades-old bond sales practices, had exceeded expectations and interest had been “overwhelming.”

The American fund Northern Trust, three Australian state governments, local pension fund First State Super, and CBA were the investors in the deal, which is being viewed as an initial step in moving bond sales away from manual processes towards faster and cheaper automation.



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