World Bank taps Australia's CBA for blockchain bond

Commonwealth Bank of Australia has won a mandate from the World Bank to arrange a pioneering bond issue to be created and run using only blockchain.

The World Bank and CBA said indicative interest in the blockchain operated new debt instrument, nicknamed 'bond-i' after Australia's iconic beach, had been strong. No size or date was given for the issue, a first for the World Bank using blockchain technology.

The two lenders said using distributed ledger technology would help simplify capital raising and trading and improve regulatory oversight.