Japanese company to introduce Bitcoin bonds
There is a new project under development in Japan-based Fisco, Bloomberg reports. This company has managed to sell three-year debt worth 200 bitcoins to its subsidiary another firm on 10 August 2017, making it the first ever bitcoin bond deal on the market. At least Masayuki Tashiro, Fisco's chief product officer, believes it is. He added that this was a good experiment to test the fundraising potential of such bonds.
Yesterday (16.08.2017) the issued notes cost around $813,000. The design of these notes fully complies with Japanese bond regulations, Tashiro stressed. The press release explains that the debt pays a 3% coupon and returns 200 BTC to the holder as soon as it becomes matured. Tashiro told that his company is going to continue to experiment with this cryptocurrency bond idea.
Although this was merely a test of what’s to come, one should not underestimate this news. Bitcoin enthusiasts and holders might want to keep an eye out for new cryptocurrency opportunities in Japan, as lately the government of the country declared that cryptocurrencies are legal. The overall trend of legal framework development seems to suggest that Japan is going to become a country where it doesn’t matter what currency you are going to use on market – fiat or digital.
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