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UBS has launched a CHF375 million digital bond that’s publicly traded and settled on each conventional and blockchain-based exchanges.
The Swiss lender says that is the primary ever digital bond by a banking establishment globally that might be listed, traded and settled on a regulated digital change – SIX Digital Alternate (SDX).
The bond settles by way of SDX distributed ledger-based central securities depository community by means of atomic settlement know-how. Settlement is immediate and computerized and doesn’t require a central clearing counterparty, says UBS.
The bond can even be listed and traded on the standard SIX Swiss Alternate.
Beatriz Martin, UBS group treasurer, says: “We’re proud to leverage distributed ledger know-how to launch the inaugural UBS digital bond. This reveals our dedication to help the event of recent monetary market infrastructure.”
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