Singapore-based XinFin (XDCE) Hybrid Blockchain have announced a partnership with AiX to use their artificial intelligence (AI) technology to create the world’s first AI powered conversational Bond Broker, named Bondsai, to handle initial Bond offerings as well as secondary market trading.
XinFin is excited to announce its partnership with AiX @Ai_XChange, a leading #AI trading platform. XinFin will provide the live beta environment for pilot testing the creation, trading, and integration of tokenized bonds.#blockchain #finance https://t.co/57gjKWYU8e
— XinFin Hybrid Blockchain (@XinFin_Official) April 4, 2019
The two companies believe Bondsai will provide the accelerator-mechanism needed to create more liquidity in the traditional market which they conservatively estimate to be worth around $15 trillion but which others, including the authoritative Bank of International Settlements (BIS), calculate to be multiple times higher.
First Issuance in Q3 This Year
According to the press release, Bondsai will initially concentrate on tokenising bonds offered on infrastructure projects such as power, water and transportation with AiX AI connecting market makers, brokers, banks and institutional investors while XinFin’s KYC-enforced network will enable access for other public investors.
Joseph Appalsamy, Head of Business Development at XinFin expects the partnership will “…help bridge the global infrastructure gap by delivering innovative regulated infra asset and instrument tokenisation using artificial intelligence technology for trading and market making to unlock global liquidity.”
Approximately $250-400 million of “…AAA rated sovereign backed, post-risk infrastructure bonds from the books of Development Banks and Government Treasuries” will form the first issuance scheduled for as early as Q3 2019. Volumes as high as $10-20 billion are expected in the first year alone, with the participants confident this will increase rapidly over the longer term.
XinFin launched through an initial coin offering (ICO) last March with the intention of utilising their commercial grade Hybrid Blockchain in business-use cases where both public and private elements of data were necessary.
Although XinFin’s XDCE token did see modest price gains during the recent surge in cryptocurrency valuations, it is still trading at a fraction of a penny and is only available on a handful of smaller exchanges including TOPBTC, Bancor, and IDEX.