The Commonwealth Bank of Australia (CBA) has been picked by the World Bank to develop and deliver a world-first bond trading platform on the blockchain.
Bonds are complicated and quite often boring – but they’re also a vital instrument in the financial mix that lets countries and corporations raise and shift around big pools of cash.
Australia’s largest bank says it’s latest blockchain foray will substantially streamline capital raising processes in the debt capital markets which are currently made up of a complex web of interconnected agents and intermediaries.
Naming the platform after its racy hometown beach, the Bond-i (Blockchain Offered New Debt Instrument) platform was developed at CBA Innovation Labs …
Read the full article at: https://www.itnews.com.au/news/cba-gets-into-debt-over-blockchain-for-world-bank-500013