The IDB Group, comprised of the Inter-American Development Bank, IDB Invest, IDB Lab, and Banco Davivienda of Colombia announce the successful implementation of the first bond issuance within blockchain in Latin America and the Caribbean.

The pilot was conducted for an amount in local currency equivalent to approximately $25k and was fully subscribed by IDB Invest through a transaction on the LACChain blockchain network, the infrastructure enabled by BID Lab as a regional public good. The transaction was carried out within the Supervisory Sandbox of the Superintendencia Financiera de Colombia (SFC) for the testing of innovations in financial technology and counted on the logistical and regulatory support of the IDB Group.

The issuance completed the processes of authorization, initial registration and subsequent cancellation of the bond’s registration in the National Registry of Securities and Issuers (RNVE), as well as the issuance, trading, payment registration and compliance of the bond entirely in blockchain, which allowed testing improvements in time and cost efficiencies in a complete trading cycle in the Colombian capital market.