Sberbank And MTS Announced Its Successful Completion of Blockchain Bond Transaction in Russia

Sberbank And MTS Announced Its Successful Completion of Blockchain Bond Transaction in Russia

Blockchain News
May 17, 2018 by Sandra Onyeiwu
1402
The largest bank in Russia, Sberbank, has announced its corporate and investment banking contract, Sbrebank CIB, has successfully completed the first commercial bond transaction of Russia on Blockchain. On May 16, the bank announced that the transaction was made in partnership with MTS, the largest telecommunications operator in Russia and the Depositary of the National
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The largest bank in Russia, Sberbank, has announced its corporate and investment banking contract, Sbrebank CIB, has successfully completed the first commercial bond transaction of Russia on Blockchain.

On May 16, the bank announced that the transaction was made in partnership with MTS, the largest telecommunications operator in Russia and the Depositary of the National Agreement. The telecommunications firm MTS issued 750 million rubles worth of corporate bonds over  smart contracts, with a maturity of 6 months.

Senior Vice President of Sberbank Igor Bulantsev, said :

“This MTS bond issue not only allowed us to confirm the reliability, efficiency and secure nature of the blockchain platform and carry out complex structured transactions involving securities, but also demonstrated the potential that this technology has to develop Russia’s digital economy”.

The transaction was carried out by Sberbank CIB, the corporate and investment banking business of Sberbank. The transaction was placed through a proprietary blockchain network system operated by the National Settlement Depository (NSD). It is based on Hyperledger Fabric 1.1, a project under the Hyperledger umbrella.

 

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