News

Dubai firm claims world’s first bond issued on blockchain

BlockchainInvao, a fintech based in Dubai, has announced what it says is the first bond to be issued on the Ethereum blockchain. The IVO Blockchain Diversified Bond has been given the green light by the Financial Market Authority in Liechtenstein with all bond shares available only in the form of blockchain-based tokens. All units of the IVO token were created on the Ethereum blockchain. It was programmed by Validity Labs in Switzerland and the tokens will be secured by German digital asset banking firm, Finoa. According to Invao, the exclusively digital bond is setting a new standard for blockchain-based securities. It is also likely to cause an impact in the Mena region, says Ahmed Jacob, chief technology officer and managing partner at Invao in Dubai. “Our mission in Dubai is to contribute to the Emirates Blockchain Strategy 2021,” said Jacob. “As we believe the tokenization of financial products has enormous potential in the region, we decided to provide the code of the IVO token as well as its smart contracts to the public as open-source software so that other projects may use it as well.” ©2019 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.