The World Bank has exceeded its $73 million goal for its upcoming blockchain bond by $8 million, according to a new announcement.
As previously reported by CoinDesk, Australia's Commonwealth Bank intends to settle the bond, dubbed bond-i, on Tuesday, marking the first time the World Bank settles a blockchain bond.
While the bank originally reported it would settle $100 million AUD, it reported Friday that it had raised as much as $110 million AUD. The bond's investors include CommBank, QBE Insurance, First State Super, NSW Treasury Corporation, SAFA, the Treasury Corporation of Victoria and Northern Trust, according to a release.
CommBank is using a private ethereum blockchain for bond-i, a bank press release said earlier this month.
World Bank treasurer Arunma Oteh said in a statement on Friday that the organization welcomes "The huge interest that this transaction has generated from various stakeholders."
"I am delighted that this pioneer bond transaction using the distributed ledger technology, bond-i, was extremely well received by investors. We are particularly impressed with the breath of interest from official institutions, fund managers, government institutions, and banks. We were no doubt successful in moving from concept to reality because these high-quality investors understood the value of leveraging technology for innovation in capital markets."
Coupons on the bond can be paid on February and August 28 in 2019 and 2020, the release noted.
It offers a 2.2 percent return over two years, with a 2.251 percent semi-annual re-offer yield.
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World Bank's Blockchain Bond Experiment Raises $81 Million
Published on Aug 24, 2018
by Coindesk | Published on Coinage
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