The Philippine Dealing System Holdings Corp. (‘PDS Group’) today announced the launch of a fully digitally native bond, issued on a distributed ledger technology (‘DLT’) network powered by Hashstacs Pte Ltd (‘STACS’), a Singapore-headquartered FinTech firm. The digital bond was issued by the Union Bank of the Philippines (‘UnionBank’) for PHP 11.00 billion or approximately USD 210 million and priced at 3.25% p.a. for a tenor of 1.5 years. With more than 895 bondholders for this launch, PDS Group becomes the first Asian national market infrastructure to launch a fully live DLT-based bond.
The private sector has returned to the onshore debt market to borrow around P13 billion through the issuance of peso bonds in the first two months of the year, as listed firms scale up their financing activities to take advantage of capital reforms.
The Philippine Dealing System Holdings Corp. (PDS) plans to launch the country’s first-ever digital corporate bond next month as part of its initiatives to utilize digital technologies to deepen the domestic capital market. In a report to the Capital Market Development Council (CMDC), Antonino N
AS the national government ramps up digitization initiatives, the Department of Finance (DOF) warned that these can become targets for hackers and scammers. Finance Secretary Carlos G. Dominguez III said that while digitalization can further develop and deepen the country’s capital markets, it can also open the financial markets to…