On November 4, 2019, Singapore-based Fintech firm, BondEvalue, announced the launch of bond trading accessible via blockchain. The firm is approved as a part of the Monetary Authority of Singapore’s Sandbox Express (MAS). The bonding exchange platform will cut the minimum investment amount of bonds to US$1,000 through BondbloX.
BondEvalue is a world’s leading blockchain bond exchange that provides an opportunity for the investors to trade their bonds in small-sized tickets. In a current state, the trading of bonds is over-the-counter, i.e., on the phone. It lacks transparency in the prices of bonds as well as making the trading process inefficient. With the help of blockchain technology, the bonds will be traded like stocks. It will bring transparency to bond prices and make trade transactions instant.
The founder of BondEvalue, Rahul Banerjee, said that around 50,000 people are living in Asia who can afford wholesale bonds because of the minimum investment of US$200,000. The firm BondBloX will increase the number in the upcoming 3 to 5 years. He continued that the bond market should be accessible to all and not restricted to some people. Blockchain is a perfect solution to make the bond trading available to everyone.
This unique platform will connect all the banks, wealth managers, and robo-advisors globally to provide an opportunity for their clients to trade BondBloX. The firm will announce this platform in the upcoming events like the Singapore FinTech Festival (SFF), and Singapore Week of Innovation and TeCHnology (SWITCH) 2019.
According to the chief FinTech Officer of MAS, Mr. Sopnendu Mohanty said that the feedback from the customers is helping a lot in getting the success of innovation. The innovative platform by BondEvalue is facing real-time challenges in the present bond market.
The bond exchange platform is developed on Hyperledger SawTooth for building, deploying, and executing distributed ledgers. The Executive Director of Hyperledger, Mr. Brian Behlendorf, said that the company is eagerly waiting to see the bond trading platform live globally. BondEvalue will provide transparency, security, and efficiency in bond trading to the customers.
The Capital Markets Partner, Singapore, Jonathan Horan, said that he is delighted that their team is working with BondEvalue and MAS on the Sandbox project and bond exchange digital platform. The blockchain implementation in bond exchange is to redefine the international debt capital markets.