SIX Securities Services unveils blockchain based bond issuing solution
In today’s blockchain news: Digital Asset Holdings and SIX Securities Services
SIX Securities Services, Switzerland’s post-trade market infrastructure says it has developed – “and intends to deploy” – a new bond issuing solution based on the distributed ledger technology (DLT).
It covers the entire bond lifecycle, from issuance to settlement, SIX Securities Services says.
“The solution enables the issuing of bonds as smart contracts that specify at what dates coupon payments are made, for what amounts and how/when repayments occur.
“It includes the connection of the smart contract to the chain where buyers can allocate money to the bond by paying in digitalised currency to the address of the bond,” SIX Securities Services explains.
The project is a result of a joint effort of SIX and blockchain specialist Digital Asset Holdings.
The solution is still a prototype. Thomas Zeeb, CEO of SIX Securities Services, concedes that DLT is “still some way off for market-wide adoption”, but adds that his team is “firmly of the belief that the potential shown here is promising – for us – and for the industry as a whole”.
