Bank of Montreal Trials Blockchain in Fixed-Income Issuance
Cryptovest
Published Aug 16, 2018 04:42AM ET
Updated Aug 16, 2018 06:00AM ET
Bank of Montreal Trials Blockchain in Fixed-Income Issuance
Canada’s Bank of Montreal and Ontario Teachers’ Pension Plan have carried out a transaction on blockchain, the goal being to assess the viability of the technology in the securities market.
During the trial, Bank of Montreal issued a C$250 million ($190 million) one-year floating-rate deposit note to the Ontario-based pension fund. The bank used blockchain to mirror the transaction, which was booked as a traditional issuance via the Canadian Depository for Securities. Bank of Montreal’s BMO Capital Markets division has developed a proto...
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