Case Study: Bank for International Settlements achieves faster, more transparent green bond issuance with Digital Asset

Bank for International Settlements (BIS) - Customer Case Study

The Bank for International Settlements (BIS), in partnership with the Hong Kong Monetary Authority, sought to address inefficiencies and a lack of transparency in the green bond market. The cumbersome process, which took up to 28 days for retail subscriptions and involved significant manual reconciliation, created operational risk. Digital Asset partnered with the BIS to develop Project Genesis, a proof-of-concept platform utilizing their Daml smart contract language to tokenize green bonds and streamline the entire issuance lifecycle.

Digital Asset implemented a blockchain-based solution powered by Daml to create a synchronized, real-time platform for green bond distribution and management. This solution harmonized records across all participants, prevented duplicate subscriptions, and ensured regulatory compliance through automated smart contracts. The results were substantial, including a reduction in the subscription failure rate from 1% to zero, the shortening of the settlement cycle from T+2 towards T+1, and the provision of real-time, verifiable data on the environmental impact of bond proceeds to investors.

Bank for International Settlements (BIS)