DeFi
cryptonews.net
22 March 2023 15:45, UTC
Reading time: ~2 m
Swiss trading company Muff Trading AG has issued corporate bonds using the Obligate DeFi protocol. It is the first tokenized security of the Polygon network (MATIC). The bonds will be available to buyers from March 27. The test issuance was successful.
Issuers must go through know-your-customer (KYC) checks before onboarding to comply with regulations. Investors receive ERC-20 tokens in their crypto wallets representing the bond, carrying the right to receive payment at maturity or collateral in the case of a default.
Obligate makes it possible to issue bonds and commercial paper using blockchain technology without being tied to banks. In the press release, the protocol is presented as an ecosystem that combines the efficiency of smart contracts and traditional financial systems.
Image: Yahoo Finance
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