Kazakh central bank to sell short-term notes via blockchain technology

By bne IntelliNews June 14, 2017

Kazakhstan's central bank intends to sell short-term notes to retail investors using a blockchain technology-based mobile application, the central bank said on June 13.

The plans are part of the national lender's approach to simplifying securities trading in the Central Asian nation. The central bank added that the new method could be adopted in future for the placement of other securities, including IPOs targeted at retail investors.

Investors will be given an option to directly buy notes with a face value of KZT100 ($0.3) without any commission and brokers involved. The new system is set to launch in the second half of this year.

The central bank issues short-term notes bought by banks and funds on a daily basis with maturities ranging between one week and one year.

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