Breaking News

The largest bank in Australia will issue bonds on the blockroom



The Australian financial conglomerate Commonwealth Bank of Australia (CBA) intends to issue bonds using distributed registry technology. This is written by ZDNet .

According to the head of CBA for block development, Sophie Gilder, an innovative tool will appear on the financial market at the beginning of next year. The block will be used in the process of transfer and repayment of debt securities. The project also involves some unnamed "large financial organization."

Also, according to Sophie Gilder, many segments of the traditional financial market do not work as efficiently as one would like.

"We are particularly interested in using blockade in the financial market, including when dealing with stocks, bonds, syndicated loans and in other areas," the representative of the CBA said.
Sophie Gilder noted that the Australian bank has been studying the possibilities of blockage for more than four years. She is convinced that distributed registry technology is not only a good opportunity, but also, at the same time, a serious challenge to the world of traditional finance. In addition, she believes that blocking allows you to create effective solutions in the field of cybersecurity.

Recall that at the end of last year, the CBA, in partnership with Wells Fargo and Brighann Cotton Marketing Australia, implemented a deal to sell and deliver cotton from the United States to China with the help of block and smart contracts .