Overview
- Export Development Canada issued a C$100 million, sub‑three‑month bond to a closed investor group on the Samara Platform.
- Settlement used tokenized wholesale Canadian dollars created by the central bank, enabling real‑time atomic delivery versus payment.
- The RBC‑operated platform, built on Hyperledger Fabric, integrated bond and cash ledgers to support bidding, coupon payments, redemption and secondary trading on‑chain.
- Participants reported efficiency gains, improved data integrity and reduced counterparty and settlement risk from instant, on‑ledger settlement.
- Challenges cited included system complexity, new governance and coordination needs, liquidity costs, and auditability and fallback concerns, with further testing planned as policy work progresses, including federal stablecoin plans and CIRO’s new custody framework.