Turkiye's Earthquake Recovery Gets Boost Via $100 million Digital Bond
Turkey, June 30 -- Turkiye ?? Bankas? A.?. (??bank), the largest private bank in the country, has received a $100 million investment from IFC for its digitally native note (DNN) issuance. This investment marks the first DNN issuance in Turkiye and the first by a private bank in an emerging market, underscoring IFC's commitment to promoting innovative financing solutions in these regions.A DNN is a bond or note, that is issued and settled entirely on a digital platform using distributed ledger technology (DLT). This allows for secure, decentralized record-keeping and facilitates the issuing, trading, and settlement of digital securities similarly to conventional bonds. Notably, this DNN offers T+0 settlement, meaning transactions are settled...
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