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The World Bank Just Issued a Bond That Relies On Blockchain Technology From Start to Finish

Article by Lucas Laursen

The World Bank has launched a blockchain-only bond. The so-called bond-i—for “blockchain operated new debt instrument” and perhaps also for Sydney’s famous Bondi Beach—is a two-year bond that was arranged by Commonwealth Bank of Australia and raised 110 million Australian dollars ($80 million.)

Investors included several Australian banks and state treasuries. Arunma Oteh, the World Bank treasurer, mentioned in a statement the additional help of King & Wood Mallesons, Mark-it, Microsoft and Toronto Dominion Securities.

The World Bank said the bond was the first in the world to be “created, allocated, transferred and managed through its life cycle using distributed ledger technology.” However, that may not be quite accurate.

Read more on Fortune

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