Singapore Exchange completes first blockchain-based bond issue

The Singapore Exchange (SGX), in collaboration with HSBC Singapore and Temasek, has completed the first issue of bonds on SGX’s blockchain platform.

#SGXNews — #SGX, in collaboration with @HSBC and @Temasek, completes pilot digital bond for Olam International: https://t.co/w6PlDLtbi4

This marks the 1st step towards wider use of smart contracts & distributed ledger technology #DLT for the Asian bond market#DistributedLedger pic.twitter.com/reyKU30lfT

— Singapore Exchange (@SGX) September 1, 2020

This concerns the issue of government bonds worth $400 million with a five-and-a-half-year maturity, and the subsequent use of $100 million from this issue by the agro-corporation Olam International.

To model the bond and its distributed workflows, Digital Asset’s DAML smart contract language was used, and for multi-currency support — HSBC’s solution.

Exchange officials noted that the pilot project marks the first step toward broader use of smart contracts and distributed ledger technology in the Asian debt market.

Earlier, SGX announced the listing of the first cryptocurrency indices in its history: the iEdge Bitcoin Index and the iEdge Ethereum Index.

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