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World Bank Rolls Out First Digital Bond Issuance
The World Bank has launched the first digital securities issue on Euroclear’s newly developed Digital Securities platform.
According to a news statement issued on Tuesday, Euroclear’s Digital Financial Market Infrastructure (D-FMI), a platform based on distributed ledger technology, permits the digital formation, issuance, and settlement of international securities under English law.
The World Bank said that it has raised 100 million euros which is $105.9 million approximately from a three-year digital bond dedicated to supporting its sustainable development projects, with the bond debuting on the Luxembourg Stock Exchange.
Citi oversaw the bond’s issuance and payment processes, TD Securities served as the dealer, and Euroclear Bank served as the issuer’s Central Securities Depository.
According to R3, the platform’s developer, the Corda permissioned blockchain was used for bond issuance.
The World Bank first used blockchain bonds in 2018, raising approximately $73 million.
(With inputs from Shikha Singh)
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