Yesterday the Bursa Malaysia announced a blockchain proof of concept (POC) for tokenizing bonds at its subsidiary Labuan International Financial Exchange (LFX), an existing bond market where most of the listings are denominated in US dollars.
LFX is part of the Labuan International Business and Financial Centre (IBFC), which has its own financial services regulator and tax structure.
The trial is being run with Singapore based Hashstacs, which plans to launch a solution to issue, service, trade and clear bonds on the Trident Platform. The three banks signed up for the trial include the local branch of China Construction Bank, CIMB Investment Bank and Maybank Investment Bank. Other participants are Bursa Malaysia, the local regulator and the Securities Commission of Malaysia.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
