According to PANews, BlackRock's funds purchased municipal bonds through blockchain technology. BlackRock purchased these bonds through the iShares Short-Term Municipal Bond Active ETF.
The securities were issued by the city of Quincy, Massachusetts, and JPMorgan facilitated the sale on its blockchain platform. This was the first municipal bond to be traded entirely on a blockchain.
The head of BlackRock’s municipal bond group said the deal demonstrated the potential of blockchain technology in capital markets and proved BlackRock’s commitment to innovation.
