IBM, SBI to Test Blockchain Bond Trading
IBM is working with a Japanese securities firm on a new blockchain pilot focused on developing the foundations for a next-generation bond trading system. IBM and SBI Securities, a subsidiary of SBI Holdings, are looking to create new mechanisms for trading bonds, using IBM’s Hyperledger blockchain as a basis for the trials. The goal of the collaboration between SBI and IBM is to test commercially viable platforms for blockchain-based bond trading. The two firms aren't the only ones testing this particular use cases. Several companies have explored using the technology to facilitate the....
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The Commonwealth Bank of Australia (CBA) has announced the issuance of a ‘cryptobond’ for the Queensland Treasury Corporation (QTC), with the claim as the first blockchain bond issuance by a government entity in Australia or anywhere the world. The Australian banking giant has further claimed that the Queensland Treasury Corporation – the state government’s central financing authority – has already used its permissioned private blockchain platform to generate a bond tender, see instant settlements with investors after viewing their bids in real time while finalizing investment allocation.....
The $3 billion blockchain bond has been effectively cancelled. China Construction Bank’s $3 billion blockchain bond has been reportedly withdrawn following an initial delay.Fusang Exchange, a Malaysian cryptocurrency exchange that was to be responsible for listing the bond, said that it has been withdrawn at the issuer’s request.According to Reuters on Nov. 23, CCB’s branch in Labuan informed Fusang Exchange on Nov. 20 that the bond issuance would not proceed.The blockchain-based bond was to be issued by Longbond Ltd, a special purpose platform designed solely to issue digital bonds and....
The Bank of Thailand has issued the world’s first blockchain-based government savings bond platform. The Bank of Thailand launched the world’s first blockchain-based government savings bond issuance platform using IBM’s blockchain technology.Within two weeks of the launch, the central bank sold more than $1.6 billion worth of savings bonds, as per IBM’s official announcement on Oct. 5, 2020.The use of blockchain technology is said to have reduced the bond issuance time from 15 days to just two days. The increased efficiency of the process has also reduced operational cost and redundant....
After an earlier attempt, China Construction Bank has gone back to the drawing board with new partners and a new proof-of-concept for a blockchain-based bond. China Construction Bank, the world's second-largest bank by assets, is cooperating with Malaysian and Singaporean partners to test blockchain technology for use in the bond market.As previously reported, China Construction Bank's branch in Labuan, Malaysia, had initially pursued a partnership with a Labuan-based fintech to issue what was hailed as prospectively the first-ever blockchain-based digital security to be issued by a....