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Briefing
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- 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
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Accelerator
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Business Model and Practices
Business Model
and Practices
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Sector
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Financial Services
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Organization
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Altoros, National Securities Depository
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Source
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Original Publication Date
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October 25, 2017
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