Rabat - Morocco’s Banque Centrale Populaire (BCP) is set to begin issuing bonds based on blockchain technology with a total budget of MAD 100 million ($9.8 million).
The bond issuance will be launched with the support of the Moroccan Capital Market Authority (AMMC) and the participation of Maroclear, and aims to help BCP strengthen the digitalization of its offers and improve customer experience.
Blockchain bonds act like regular bonds, yet are created and managed within a certain blockchain.
The operation, which is the first of its kind in Morocco, concerns the issuance of securities (stocks, shares, bonds) of its subsidiary Maroc Leasing, the BCP said in a statement.
The operation, which will be carried out on the basis of a “Proof of Concept (PoC),” uses the best standards of Blockchain technology, which guarantee a high level of security, while allowing a reduction in costs and delays as well as a great fluidity of processing, the statement added.
The blockchain PoC is the...
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