In cooperation with JPMorgan, Moody’s, RSM UK and more, Blockchain startup Nivaura created the bond for UK-based luxury goods dealer LuxDeco, which will issue it.
As cryptocurrencies or tokenised fiat-currencies become an accepted form of payment mechanism it won’t be long before automated crypto-denominated deals become standard practice, so the fact that we’ve successfully executed a private placement transaction with retail investors puts us in a really good position to help those who follow in LuxDeco’s footsteps.
Dr. Avtar Sehra
CEO and Chief Product Architect, Nivaura
The UK’s Financial Conduct Authority (FCA) contributed regulatory oversight to the bond’s development process.
The release could have a considerable impact on bonds specifically. Middlemen contribute time and costs to legacy infrastructure, while their replacement with smart contracts would potentially make bonds available to many more businesses with smaller capital.
The news comes as Bitcoin gets ready for debut on Wall Street through CME Group’s futures.