cryptonews.net
The Israeli Ministry of Finance will partner with the Tel Aviv Stock Exchange (TASE), digital asset custody service provider Fireblock, and US software developer VMware to test a blockchain-based digital bond trading platform. The bonds will be issued by the Ministry of Finance.
The project, called Eden, is designed to reduce costs and streamline the procedure for issuing government bonds. The pilot project is expected to be completed by the end of the first quarter of 2023. As General Accountant Yali ROTENBERG told the public:
“I believe that blockchain-based technologies are here to stay, and over time will permeate the core of the financial markets, thoroughly and deeply altering them. It is our duty to constantly examine new technologies and methodologies.”
The list of countries and international organizations that have digitized their bonds is not long. The World Bank for Reconstruction and Development and the Commonwealth Bank of Australia led the way back in 2018, raising $110 mln for two-year blockchain bonds. In 2021, the European Investment Bank followed this path by issuing 100 mln euros worth of digital bonds.
Image: Ledger Insights