The World Bank has raised $50 million Australian dollars for its Kangaroo bond via the blockchain tech. The financial institution claims that this is the first bond, the creation, placement, transfer and management of which was carried out using the blockchain, follows from the statement of the bank.
This initiative is an extension of the existing Bond-i World Bank blockchain platform, which is being carried out in collaboration with Commonwealth Bank of Australia (CBA), RBC Capital Markets and TD Securities.
Andrea Dore, World Bank Head of Funding says they are happy to see the continued, strong support and collaboration from investors and partners.
"The World Bank’s innovation and experience in the capital markets is key to working with our member countries to increase digitization to boost productivity in their economies and accelerate progress towards the Sustainable Development Goals," Dore added.