Fintech Bondevalue Sets Bond Trading Platform Based on Blockchain

On November 4, 2019, Singapore-based Fintech firm, BondEvalue, announced the launch of bond trading accessible via blockchain. The firm is approved as a part of the Monetary Authority of Singapore’s Sandbox Express (MAS). The bonding exchange platform will cut the minimum investment amount of bonds to US$1,000 through BondbloX.

BondEvalue is a world’s leading blockchain bond exchange that provides an opportunity for the investors to trade their bonds in small-sized tickets. In a current state, the trading of bonds is over-the-counter, i.e., on the phone. It lacks transparency in the prices of bonds as well as making the trading process inefficient. With the help of blockchain technology, the bonds will be traded like stocks. It will bring transparency to bond prices and make trade transactions instant.

The founder of BondEvalue, Rahul Banerjee, said that around 50,000 people are living in Asia who can afford wholesale bonds because of the minimum investment of US$200,000. The firm BondBloX will increase the number in the upcoming 3 to 5 years. He continued that the bond market should be accessible to all and not restricted to some people. Blockchain is a perfect solution to make the bond trading available to everyone.

This unique platform will connect all the banks, wealth managers, and robo-advisors globally to provide an opportunity for their clients to trade BondBloX. The firm will announce this platform in the upcoming events like the Singapore FinTech Festival (SFF), and Singapore Week of Innovation and TeCHnology (SWITCH) 2019.

According to the chief FinTech Officer of MAS, Mr. Sopnendu Mohanty said that the feedback from the customers is helping a lot in getting the success of innovation. The innovative platform by BondEvalue is facing real-time challenges in the present bond market.

The bond exchange platform is developed on Hyperledger SawTooth for building, deploying, and executing distributed ledgers. The Executive Director of Hyperledger, Mr. Brian Behlendorf, said that the company is eagerly waiting to see the bond trading platform live globally. BondEvalue will provide transparency, security, and efficiency in bond trading to the customers.

The Capital Markets Partner, Singapore, Jonathan Horan, said that he is delighted that their team is working with BondEvalue and MAS on the Sandbox project and bond exchange digital platform. The blockchain implementation in bond exchange is to redefine the international debt capital markets.

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Santiago Stock Exchange to Partner in Blockchain Alliance

A new Hyperledger blockchain initiative is looking to stabilize the Chilean stock market and lure in overseas investors.

The Santiago Stock Exchange (STE), Central Securities Depository (DCV) and the Global Trade Directory (GTD) will form a blockchain association for this task, according to a BNamericas report, published August 27.

The so-called Technology Consortium will examine use cases for blockchain in the financial sector, specifically in improving communications for domestic and international investors in the Chilean stock exchange.

Within 18 months, the association looks to institute the Business Blockchain Network that will operate a collection of nodes. Reportedly this interconnectivity will “reduce applications, times, and costs of administrative processes.”

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,” said the general manager of the Santiago Stock Exchange, José Antonio Martínez.

Last year, the STE implemented the Linux Foundation’s Hyperledger framework to support short selling and other financial instruments. The Hyperledger network is marketed as an enterprise-focused, permissioned blockchain. In recent months, the International Swaps and Derivatives Association (ISDA) also began integrating parts of the software.

Over the next six months, the consortirum will begin defining and finalizing the project’s details with input from affected institutions. Production releases are expected at 6 month intervals thereafter.

Earlier this month, a leading Latin American banking provider partnered with cryptocurrency exchange Bitex to facilitate cross-border payments on the continent using the bitcoin blockchain.

Metropolitan Cathedral, Plaza de Armas (Main Square), Santiago de Chile via Shutterstock

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