BondEvalue's BondbloX Exchange Secures Regulatory Approval to Establish Branch in GIFT City

BondEvalue's BondbloX Bond Exchange has announced that it has received regulatory approval from the International Financial Services Centres Authority (IFSCA) to establish a branch in GIFT City. This approval, granted under the Framework for FinTech Entities, enables BondEvalue to operate in Gujarat International Finance Tec (GIFT) City under a limited use authorization.

The approval of BondbloX Bond Exchange will allow GIFT City members and their clients to access global bonds. With bond yields currently looking very attractive due to rising global Treasury rates, Indians seeking to invest in USD have faced limited fixed income opportunities and high transaction costs. Through BondbloX, Indian investors can now invest in institutional-grade USD bonds, providing them with a wider range of investment options.

In subsequent phases, BondEvalue plans to interconnect capital markets and unlock value by offering global investors access to Indian bonds through its GIFT City branch. The recent FinTech Co-operation Agreement between Monetary Authority of Singapore (MAS) and IFSCA (September 2022) has paved the way for BondbloX's approval.

Co-founder of BondEvalue, Rajaram Kannan, expressed his excitement about collaborating with IFSCA and GIFT City members. "As a global bond exchange that has been bringing much needed modernisation to one of the largest asset classes, we look forward to collaborating with the IFSCA and GIFT City members to create and add value in the innovative financial ecosystem created by the IFSCA and the Government of India".

The BondbloX Bond Exchange is the world's first fractional bond exchange launched by BondEvalue. Regulated as a Recognised Market Operator by the Monetary Authority of Singapore, BondEvalue transforms the bond market by enabling investors to conduct electronic bond trading of fractional bonds ("BondbloX").

Source: PR Newswire