The World Bank announced that the world's first bond to be "created, allocated, transferred and managed" using distribute ledger technology has raised AU$110 million.
The two-year bond-i bond, which stands for "blockchain operated new debt instrument" and is also a reference to Australia's famous Bondi beach, was solely arranged by the Commonwealth Bank of Australia (CBA).
Investors in the bond include CBA, First State Super, NSW Treasury Corporation, Northern Trust, QBE, SAFA, and Treasury Corporation of Victoria.
"CBA and the World Bank will continue to welcome investor interest in the bond throughout its life cycle, and inquiries from other market participants in relation to the platform", the statement said.
World Bank Treasurer Arunma Oteh said the interest in the bond had been "huge". He said:
"We are particularly impressed with the breath of interest from official institutions, fund managers, and banks. We were no doubt successful in moving from concept to reality because these high-quality investors understood the value of leveraging technology for innovation in capital markets."
The bond is part of a broader strategic focus of the World Bank to harness the potential of disruptive technologies for development.
In June 2017, the World Bank launched a Blockchain Innovation Lab to understand the impact of blockchain and other disruptive technologies in areas such as land administration, supply chain management, health, education, cross-border payments, and carbon market trading.