The World Bank has exceeded its $73 million goal for its upcoming blockchain bond by $8 million, according to a new announcement.
As previously reported by CoinDesk, Australia's Commonwealth Bank (CommBank) intends to settle the bond, dubbed bond-i (for blockchain operated new debt instrument), on Tuesday, marking the first time the World Bank settles a blockchain bond. While the bank originally reported it would settle $100 million AUD ($73 million U.S.), it reported Friday that it had raised as much as $110 million AUD (roughly $81 million U.S.).
The bond's investors include CommBank, QBE Insurance, First State Super, NSW Treasury Corporation, SAFA, the Treasury Corporation of Victoria and Northern Trust, according to a release.
CommBank is using a private ethereum blockchain for bond-i, a bank press release said earlier this month. Microsoft has reviewed the platform's architecture and security.
World Bank treasurer Arunma Oteh said in a statement on Friday that the organization welcomes "the huge interest that this transaction has generated from various stakeholders."
The organization will continue to look into how capital markets can become more secure, she said.
Coupons on the bond can be paid on February and August 28 in 2019 and 2020, the release noted. It offers a 2.2 percent return over two years, with a 2.251 percent semi-annual re-offer yield.
World Bank HQ image via Andriy Blokhin / Shutterstock
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