Blockbonds Global PLC is a subsidiary of Norwegian fintech Blockbonds AS announced this week it has listed a £15 million debt offering on the Gibraltar Stock Exchange.
Founded in 2015, Blockbonds reported it strives to democratize the access to financial markets for everyone in the world, by bridging the cryptosphere with traditional finance. Blockbond explained that by utilizing blockchain technology, it is able to create a payment system in which everyone can manage their savings, payments, and investments in an honest, transparent and secure way.
“Blockbonds have developed SPENN, an advanced financial platform built into a user friendly mobile application with both a consumer, and a business facing interface. SPENN is free to download and use, and includes features such as a spending account, savings account, real-time transfers, a simple point-of-sale solution for businesses, and an innovative way to withdraw and deposit your money.”
Blockbonds also reported the bonds, which have ISIN GB00BFZ63Y28, are offered at £10,000 nominal value per Bond, 9.0% coupon paid quarterly and a 5-year maturity. The total value of the issue is up to £15 million. Blockbonds added it will use the net proceeds of the placement to finance the growth of its mobile banking application known as SPENN.
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