OUT OF THE BLOCKS

摘要

Few bonds over the decades can claim a potentially revolutionary impact on capital markets, but the World Bank and Commonwealth Bank of Australia won that right with the world's first public offering of blockchain bonds. The International Bank for Reconstruction and Development's A$110m (US$82m) 2.2% two-year Kangaroo may be modest in size and short in tenor, but its implications could be huge if the groundbreaking trade is replicated and improved to establish a new, more efficient template for global bond issuance.