BondEvalue, a Singapore-based leading fintech corporation, has opened doors to a blockchain-based bond exchange. The BondbloX Bond Exchange (BBX) has recently gone live in Singapore, making its trade on Wednesday, August 12th, 2020.
By launching BBX, BondEvalue is aiming to establish institutional bond markets that have more types of investors and can enable low-cost, transparent, and super-fast exchange transactions. According to the BondEvlaue CEO and founder, Rahul Banerjee, BBX is transforming the fundamentals of bond markets and helping BondEvalue set up exchange-based trading avenues.
Banerjee has identified that market drifting from its over-the-counter characteristics. By reducing additional spreads and leveraging the investments in delivering better-priced bonds, BondEvalue’s BBX is looking forward to building greater transparency for investors.
When transparency of shared assets is proved via the BBX platform, BondEvalue will enable its investors in trading blockchain bonds with smaller denominations and getting have quick settlements on these trades. The blockchain technology of the BBX platform runs on a B2B2C model, which connects end investors through brokers or banks.
The BBX performs settlements based on T+0 and charges a flat $2 fee per trade, regardless of how big or small the trade is. The platform fee also includes 20 basis points charged every year, while BondEvalue partners get the privilege of charging a transactional commission for each trade.
The BBX platform joined forces with BondEvalue through UOB Kay Hian as the broker, while their designated custodian was the Northern Trust. One of the first BBX members to take part in this launch was Taurus Wealth Advisors, a multi-family of finance consultants. Currently, the BBX pipeline in Singapore is expecting more members and will onboard them by the end of this month.
As a game-changer, the BBX platform opens Singapore to all the global institutional and accredited investors. Five years from now, over 25 million people from different parts of the Asian blockchain marketplace will be eligible to invest in bonds via Singapore’s BBX. As of now, BondEvalue has added over 500,000 individual investors for its BBX launch in Singapore.