Sberbank Buys Commercial Bonds Issued Over Blockchain Platform

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Russian bank Sberbank CIB and telecoms firm MTS have conducted what they say is the country’s first commercial bond transaction made using blockchain.

MTS הודיע Tuesday that it had placed commercial bonds of 750 million rubles ($12.11 מִילִיוֹן), with the primary buyer being Sberbank, using a proprietary blockchain platform provided by the National Settlement Depository (NSD) and based on Hyperledger Fabric 1.1.

The bonds issued have a maturity of 182 days with an annual coupon rate of 6.8 percent and were placed on OTC market, according to a press release. The transaction used thedelivery versus payment” (DVP) method of settlement and was compliant with Russian legislation, it adds.

Andrey Kamensky, VP of finance, investments and M&A at MTS, commented that the successful blockchain transaction was carried out throughthe entire settlement chain, from security placement and cash receipt to fulfillment of all obligations to the investor.

Kamensky added:

MTS intends to continue employing blockchain-based solutions, primarily in financial markets, due to [the technology’s] clear advantages in increasing transaction transparency and the participantsconfidence, while substantially reducing transaction costs.

As reported by CoinDesk, the NSD, the central depository for Russia’s largest securities exchange group, הודיע trials of its Hyperledger-based commercial bond trading platform in October 2017. At the time, Raiffeisenbank Russia had already tested the system with the purchase of $10 million-worth of bonds in a mobile phone network.

According to Eddi Astanin, chairman of the board at NSD: “The pioneering transaction with Sberbank and MTS confirmed blockchain’s status as an efficient industrial technology providing confidentiality and speed during securities settlement.

Sberbank תמונה באמצעות Shutterstock

המנהיג בחדשות blockchain, CoinDesk הינו גוף תקשורת זה שואפת סטנדרטים עיתונאיים הגבוה ומצייתת ידי סט קפדן של מדיניות עריכה. CoinDesk הנה חברת בת בבעלות הפעלה עצמאית של קבוצת המטבע הדיגיטלית, המשקיעה cryptocurrencies וחברות הזנק blockchain.

https://www.coindesk.com/sberbank-buys-commercial-bonds-issued-over-blockchain-platform/

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