Digital Bonds & Programmable Finance
Redefining the debt markets through self-executing instruments.
The Evolution of Debt
Digital bonds represent the vanguard of programmable finance. Unlike traditional bonds that exist on legacy registries with manual clearing, digital bonds are natively issued on distributed ledgers, where their entire lifecycle—from issuance to redemption—is encoded in smart contracts.
Natively Digital
No parallel legacy registry required. The ledger IS the ledger of record.
Instant DvP
Atomic settlement removes the T+2 clearing risk entirely.
The Smart Bond Framework
The DCM Smart Bond Framework defines the technical standards for 'active' debt instruments. This includes automated coupon payments, conditional clauses (e.g., sustainability-linked triggers), and transparent investor registries.
Learn more about the technical logic in our Atomic Settlement Analysis.