World Bank Raises $33M Via Blockchain for Its Kangaroo Bond
Adrian Zmudzinski's original article for cointelegraph.com reduced by 74%
The World Bank raised over $33 million for its Kangaroo bond on a blockchain. The international organization announced on Aug. 16 that it raised an additional A$50 million for its Kangaroo bond due August 2020, using a blockchain.
Per the report, the initiative expands the World Bank's Bond-i blockchain platform combining three joint lead managers, Commonwealth Bank of Australia, RBC Capital Markets and TD Securities. The initiative has seen the participation of new market participants, including an offshore investor and the existing investor community including ongoing support and input from TCorp. CBA was mandated by the World Bank as an arranger for the bond in August last year, which resulted in the raising of AUD$110.
In May, CBA and the World Bank enabled on-chain secondary bond trading with TD acting as a market maker. It is part of a broader initiative aiming for applying DLT by the World Bank. As Cointelegraph reported in April, at the time the International Monetary Fund and the World Bank have jointly launched a private blockchain and a so-dubbed quasi-cryptocurrency.
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