The World Bank has exceeded its $73 million goal for its upcoming blockchain bond by $8 million, according to a new announcement. As previously reported by CoinDesk, Australia’s Commonwealth Bank (CommBank) intends to settle the bond, dubbed bond-i (for blockchain operated new debt instrument), on Tuesday, marking the first time the World Bank settles a blockchain bond. While the bank originally reported it would settle $100 million AUD ($73 million U.S.), it reported Friday that it had raised as much as $110 million AUD (roughly $81 million U.S.).
The bond’s investors include CommBank, QBE Insurance, First State Super, NSW Treasury Corporation, SAFA, the Treasury Corporation of Victoria and Northern Trust, according to a release. CommBank is using a private ethereum blockchain for bond-i, a bank press release said earlier this month. Microsoft has reviewed the platform’s architecture and security.
World Bank treasurer Arunma Oteh said in a statement on Friday that the organization welcomes “the huge interest that this transaction has generated from various stakeholders.”