Sberbank, the national settlement Depository (NSD) and MTS completed the transaction for the issue of commercial bonds on blockchain technology.
As reports a press-service of the savings Bank:
“Was the repayment of the nominal value of the issue of commercial bonds of MTS 750 million rubles, the organiser and the customer which made corporate investment business of the savings Bank. We have successfully implemented a case study on the full life cycle of securities in the form of a set of smart contracts – up to full execution by the Issuer of its obligations to the investor.”
In the preparation of the transaction has been implemented a complete model of DVP (Delivery versus Payment) on the blockchain, in which the movement of securities and funds happen simultaneously. The transaction added possibility of dynamic changes in the composition of network members to work with a wide range of investors, said the Bank. In addition, for the transaction were used blockchain platform of the National settlement Depository, which had the Issuer, the Central Depository and the investor.
In the framework of the project was ensured confidentiality when working with accounts, and also take into account the peculiarities of Russian legislation.
Recall that the first Russian company declared the payment options on bonds on blockchain technology, it became a Megaphone. In October last year it issued bonds for 0.5 billion roubles, taking into account the rights which will be implemented on the blockchain, the buyer of the securities was Raiffeisenbank.