Abu Dhabi-based Al Hilal Bank has conducted the first-ever blockchain-based transaction for an Islamic bond called Sukuk worth $500 million.
The first Commonwealth Bank of Australia’s blockchain-based bond has raised $110 million which exceeded all the expectations.
The proceeds generated after the bond issuance will go towards supporting World Bank’s sustainable development projects in emerging economies.
Called bond-i, which stands for Blockchain Offered New Debt Instrument, the bond will become the first one to be managed completely with blockchain technology.
Next year the commonwealth Bank of Australia will issue a bond on the blockchain, considering it a very interesting module for doing business in unusual ways.