FOR IMMEDIATE RELEASE
CINCINNATI, OH – December 6, 2018 – 10XTS, a blockchain technology company specializing in asset tokenization and digital securities, recently met with the Macro-Financial Unit in the Finance, Competitiveness, and Innovation Global Practice of the World Bank Group. With extensive expertise in macroeconomics and global public debt markets, Mr. Erik Feyen has been a pivotal figure in the World Bank’s foray into blockchain, particularly in an innovative $100 million government bond offering conducted in collaboration with Commonwealth Bank in Australia. This landmark bond issuance was executed on a private blockchain network, introducing new models for digital securities as token-based assets.
As the World Bank Group continues to pioneer blockchain-based solutions for public finance, Mr. Feyen’s leadership in this bond project provides a valuable roadmap for companies exploring blockchain in the public sector. For 10XTS, public finance represents a strategic growth area, and the company is preparing to launch XDEX, its blockchain-based platform for the compliant issuance, management, and trading of digital securities. XDEX is designed to support a range of digital asset types, with a particular focus on streamlining processes for state and local government bonds.
“The World Bank’s successful experiment with blockchain-based government bonds is a compelling example of the potential for digital securities in public finance,” said Michael Hiles, CEO of 10XTS. “Meeting with Erik Feyen gave us crucial insights into how blockchain can drive efficiencies in bond issuance and management, and we look forward to applying these concepts with XDEX to support the next generation of digital state and local government bonds.”
The World Bank’s Pioneering Blockchain Bond Offering
In a groundbreaking project led by Mr. Feyen, the World Bank conducted a $100 million government bond issuance on a private blockchain network. This experiment in digital securities represents a major step toward modernizing public finance through tokenized assets, allowing for greater transparency, security, and automation. Mr. Feyen’s detailed presentation on the project highlighted the operational efficiencies achieved, as well as the implications for public debt markets globally.
The project not only demonstrated the feasibility of blockchain for public debt but also underscored the value of regulatory compliance and technological rigor. By issuing the bond on a secure, private blockchain network, the World Bank and Commonwealth Bank of Australia were able to manage the entire lifecycle of the bond, from issuance to settlement, with enhanced transparency and reduced transactional friction. Mr. Feyen’s insights into macroeconomic impacts and the evolving landscape of public debt markets provided 10XTS with a comprehensive understanding of how blockchain can be applied to government securities.
XDEX: Enabling Blockchain-Driven Automation for Public Finance
With the upcoming launch of XDEX, 10XTS aims to address the unique needs of public finance markets by creating a platform tailored to support the issuance, sale, management, and trading of digital securities, including government bonds. XDEX leverages blockchain to streamline regulatory compliance, increase transparency, and automate processes that are traditionally labor-intensive, providing state and local governments with a tool to modernize and enhance efficiency in bond issuance and management.
Hiles emphasized the relevance of blockchain for transforming public debt markets: “XDEX will provide a blockchain-based solution that not only aligns with regulatory requirements but also brings unprecedented levels of automation and transparency to public finance. With insights from global leaders like Erik Feyen, we are well-positioned to introduce solutions that benefit both issuers and investors.”
The XDEX platform will enable secure, token-based assets that can be issued and managed with automated workflows, reducing administrative overhead and operational costs. By leveraging smart contracts and real-time reporting, XDEX allows public entities to conduct bond offerings more efficiently, ultimately creating opportunities for increased access to public finance.
Meeting with World Bank Leaders: A Step Toward Global Blockchain Integration in Public Finance
The exchange of knowledge with Mr. Feyen marks a critical step for 10XTS as it prepares XDEX for the market. The World Bank’s blockchain bond offering serves as an example of how international financial institutions are beginning to embrace blockchain for its potential to modernize traditional finance sectors, including public debt. Mr. Feyen’s expertise in macroeconomics and public debt informed 10XTS’s strategic direction for XDEX, validating the platform’s potential to make a meaningful impact on state and local government finance.
About 10XTS
10XTS is a blockchain technology company focused on delivering compliant, efficient, and secure solutions for digital asset management and data transparency. Through its flagship XDEX platform, 10XTS provides a comprehensive blockchain ecosystem for the issuance, trading, and management of tokenized assets, with a special focus on public finance and government securities. Headquartered in Cincinnati, Ohio, 10XTS is dedicated to driving blockchain innovation that meets regulatory standards and supports the evolution of capital markets.
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10XTS
Email: press@10xts.com
Website: www.10xts.com
