Wednesday marks the release of the first Ethereum-denominated bond in a move that could make current centralized processes obsolete.
Together with JPMorgan, Moody’s and more, Blockchain startup Nivaura created the bond for UK-based luxury goods dealer LuxDeco, which will issue it.
The UK’s Financial Conduct Authority (FCA) contributed regulatory oversight to the bond’s development process. Going forward, industry sources quote LuxDeco, further bonds could appear if cryptocurrency continues its mainstream trajectory.
That same trajectory could have a considerable impact on bonds specifically. Middlemen contribute time and costs to legacy infrastructure, while their replacement with smart contracts would potentially make bonds available to many more businesses with smaller capital.
The news comes as Bitcoin prepares to de facto debut on Wall Street via CME Group’s futures, which is set to launch in around three weeks.
Cointelegraph has reached out to Nivaura for more information about the bonds release and will update this article as information becomes available.
