BMO Capital and Canadian Pension Fund Complete Fixed Income Trade on Blockchain
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BMO Capital and Canadian Pension Fund Complete Fixed Income Trade on Blockchain
North American-based financial services provider BMO Capital Markets (BMO), in collaboration with a pension fund, conducted the first pilot that uses blockchain to automate the fixed income transactions in Canadian dollar.
Thanks to the technology that underpins cryptocurrencies, BMO was able to issue CDN$250MM 1-year floating rate Deposit Note which included Ontario Teachers fund as the buyer.
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In the release announcing the fixed income experiment, BMO said the trial marked an unprecedented scale of institutional collaboration between the financial and technology communities and represents a leap forward in improving ... (read more)
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