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Blockchain-Based Debt Protocol Obligate Records First Bond Issuance on Polygon Network

Obligate, a blockchain-based debt securities protocol, has executed the first bond issuance without any banks involved using the Polygon blockchain, the protocol announced Wednesday in a statement.

The issuer was Muff Trading AG, a Swiss physical commodities trading boutique specializing in sourcing precious metals and raw materials from South America. Muff sold tokenized corporate bonds using Obligate’s marketplace. The firms did not disclose the debt issuance’s size and terms.

The development precedes Obligate opening its platform to the broader public on March 27.

(By Krisztian Sandor)

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