National Securities Depository, clearing and settlement company in Russia, tested blockchain technology to issue $10 million MegaFon corporate bond

Briefing

October 29, 2017

Briefing	MegaFon Corporate Bond – National Securities Depository (NSD), largest clearing and settlement company in Russia, issued $10 million corporate bond with three-month maturity using blockchain platform on October 2017, with Raiffeisenbank Russia as sole buyer Collaboration Partners – Tapped California-based Altoros to develop solution, which used smart contracts built on Hyperledger Fabric Platform, and consulted with Russian central bank for issuing bond Leveraging Blockchain to Improve Workflow – NSD exploring blockchain to augment workflow that still complies with country’s regulations, and prepare for future client demand for faster and more transparent transactions Gaining Traction – Pilot attracted interest from other issuers and brokers, with NSD already receiving requests to repurpose smart contracts for other bonds
Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Business Model and Practices Business Model and Practices	Data, Interfaces and Algorithms
Sector	Financial Services
Organization	Altoros, National Securities Depository
Source	del Castillo, M., "Making boring sexy: NSD sees booming interest for blockchain bonds", CoinDesk, http://www.coindesk.com/; Kuhuk, J., "MegaFon and Raiffeisenbank complete first Blockchain bond placement in Russia", East-West Digital News, http://www.ewdn.com/; AcceleratingBiz analysis
Original Publication Date	October 25, 2017

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