Singapore based firm to launch Blockchain based bond investment platform

by | Nov 27, 2020 | Industry | 7 comments

In order to provide India investors with an option to buy bands across the globe, Singapore-based bond exchange, BondEvalue is mulling the launch of its Blockchain-platform in the New Year to facilitate investment in bonds by individuals and common man.

The platform is being developed by India-origin entrepreneurs which will allow individual to remit up to USD 200,000 a year from India. Singapore based firm to launch Blockchain based bond investment platform

The BondbloX Bond Exchange (BBX) has received approval as a global Recognised Market Operator (RMO) from the Monetary Authority of Singapore (MAS).

It is the world’s first Blockchain-based bond exchange, to trade globally a wide range of fixed-income securities to the mass markets.

Speaking on this, Rahul Banerjee of BBX told that they have been speaking to two leading banks to launch the platform in the next year, which follow government rules and regulations. 

The firm has received the clearance from MAS regulatory sandbox on October 1, 2020, when it successfully concluded proof of technology and business model. The clearance from MAS will help the company set up operations and accelerate engagements with potential partners in India. 

It will re-boost common man’s saving schemes in global markets. My dream is to enable every Indian to buy bonds from their mobile phones the way they order food. One rupee, one bond,  Banerjee said.

Another co-founder of BBX, Rajaram Kannan said, the companies vision of extending bond trading from Wall Street to main street is becoming a reality. We are committed to helping investors trade bonds in a transparent manner. Our aim is to make it one of the most attractive schemes for the common man.

“The onshore Indian market with new issuance of USD $100 billion corporate bond market is huge. Going forward, we foresee active trading in rupee-denominated bonds including Masala bonds,” Banerjee underlined

Our BondEvalue platform is the right place where we can support greater integration of the Indian bond markets with global markets. 

Now, with our bond exchange platform Indian residents can buy US dollar bonds through the Liberalised Remittance Scheme which allows individual to remit up to USD $200,000 a year from India. Individuals will come via the Indian banks that become members on the exchange.

Currently, bond market lacks transparency because over-the-counter trading. Exchange trading is the only solution. There were many previous attempts by regulators and market participants to democratise bond investing but BondEvalue was able to make it happen largely because of three factors – advances in technology, the Singapore regulatory approval, and the experience and expertise of his team at BondEvalue.

Today, bonds are popular with individuals in countries like the US, Japan and Singapore. Technology can create a second wave of allowing individuals to invest in bonds, similar to what the Kisan Vikas Patra’s did decades ago, added the veteran bankers, Banerjee concludes.

As of August 2020, International Capital Market Association (ICMA) estimates that the overall size of the global bond markets in terms of USD equivalent notional outstanding is approximately USD $128.3tn. This consists of USD $87.5tn Sovereigns, Supranationals and Agencies (SSA) bonds (68%) and $40.9tn corporate bonds (32%).

 

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