INVAO issues world's first Ethereum-based bond accepted by the Financial Market Authority
Priya Wadhwa
10x Industry

INVAO issues world's first Ethereum-based bond accepted by the Financial Market Authority

In conversation with Ahmed Jacob, CTO of INVAO Group.

The finance industry is moving many of its instruments to blockchain platforms, in order to bring more transparency into the system and leverage the power of the decentralised system.

Even the World Bank issued a second round of its landmark blockchain bonds. However, it is run on a private version of the Ethereum blockchain.

However, due to fraud cases in the past, investor protection is one of the major concerns, which is largely the reason why regulatory bodies are hesitant in giving their stamp of acceptance or approval to such instruments.

In a landmark move, INVAO, the blockchain asset management platform, has now successfully issued its digital bond on Ethereum’s public blockchain — with the acceptance of the Financial Market Authorities in several countries — and is currently in the process of having it listed on various exchanges.

The IVO – Blockchain Diversified Bond lives on the Ethereum blockchain and is only available in the form of a digital token. ”One major distinction to other blockchain-based bonds is that we do not provide any paper-based bond certificates. That makes IVO the first fully digitised bond, which sets a new standard for blockchain-based financial products,” says Ahmed Jacob.

All units of the IVO Token (IVO) have been created on the Ethereum blockchain. The ERC-20 Token Generation Event took place on 27th September 2019, and the IVO token is ready to be sold to investors.

The IVO token, based on the public blockchain, provides transparency to investors, as well as allows them to view the smart contracts. Moreover, INVAO uses active portfolio management and automated trading to avert the volatility of the market.

“The tokenisation of financial products has enormous potential in the region,” said Ahmed, which is why “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.”

This way, other businesses can structure their own tokens using INVAO’s work as an example for a token that has been successfully completed.
Ahmed Jacob, CTO of INVAO Group

This milestone news comes shortly after INVAO raised half of its STO target volume of 20 million US-dollar, as revealed in Ahmed Jacob’s interview with SME10X. Watch him talk about INVAO, blockchain asset management, and more via the link below.