Afghanistan and Tunisia look into crypto bond issuance

Carol Gaszcz
Crypto exchange Bakkt is stepping up its game in becoming a serious player in the bitcoin exchange business. The Intercontinental Exchange (ICE) backed venture announced on Monday that it acquired Digital Asset Custody Company (DACC), a custodian of digital assets, per a Medium post by Bakkt COO Adam White. The post Bakkt acquires custodian DACC as it builds out its own solution for storing cryptocurrencies appeared first on The Block.

Afghanistan and Tunisia are looking into issuing a sovereign Bitcoin bond, Asia Times writes. The countries’ central bank governors believe state crypto bonds could help them with obtaining investments. They both spoke at the annual Spring Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund in Washington last week.

Governor at the Central Bank of Afghanistan Khalil Sediq said a crypto bond could help the country raise some of the US$5.8 billion that Afghanistan needs for its mining, energy and agriculture industries. Since the country is subject to restrictions on non-concessionary borrowing, issuing bonds and metal futures could be a way to access international markets. The country is hoping to leverage its vast lithium reserves, whose value is estimated at over $3 trillion. It is also aiming to become a significant player in the lithium mining business.

Tunisia, on the other hand, has created working groups that are investigating the issuance of a sovereign Bitcoin bond. The country already has its own digital currency—the e-dinar—and accepts digital payments through a Poste Tunisienne.