MAS-recognised Singapore bond exchange (register-matched, RMO since 2 Oct 2020) that issues BondbloX — fractional debentures over real ISIN-identified corporate and sovereign bonds, in $1,000 denominations against a conventional $200,000, on a private Hyperledger Sawtooth ledger with Citi and Northern Trust as custodians. Strongest on if the issuer goes under, what paper do i actually hold - a bond, a certificate, or an iou? (9/10): READ ON https://content.bondblox.com/uploads/Bondblo_XIM_V8_010925_5026f6e1df.pdf (Information Memorandum Version 8, cover page: 'This Information Memorandum is dated 1 September 2025.'; linked as 'BBX Information Memorandum' from https://bondblox.com/trade-bonds/resources) — cover: 'BondbloX Pte. Weakest on am i allowed to buy this at all - in my country, at my wealth level, today? (6/10): READ ON https://content.bondblox.com/uploads/Bondblo_XIM_V8_010925_5026f6e1df.pdf, SELLING RESTRICTIONS, p.61 — United States: 'The BondbloX have not been and will not be registered under the Securities Act and, subject to certain exceptions, may not be offered or sold within the United States.' and 'The BondbloX are… Published price: BondbloX charges 0.20% per trade & 0.20% annualised fee on AUM [homepage headline].
Tokenised Bonds
Tokenised Bonds evaluated across if the issuer goes under, what paper do i actually hold - a bond, a certificate, or an IOU?, am i allowed to buy this at all - in my country, at my wealth level, today?, what is the published exit route - and is there any dated evidence a holder used it?, and what does the token route cost me over just buying the bond or the ETF?.
Ranked on 4 published criteria weighted 30/25/25/20, which set goal alignment — 30 of the 86 points. The rest: regional access 20, evidence depth 18, ease of use 10, institutional trust 8. Profile match is shown in breakdowns but carries no weight.
What matters most before choosing in this category
Decide first whether you actually want term debt, because most of this market is not selling it. Two of the seven ranked here sell an instrument with a maturity date and a coupon you can look up; four sell exposure to bond prices with no maturity a buyer can look up; one is a licensed venue that has not yet admitted a bond. That is why the table is split into labelled segments rather than presented as a single list — the top-ranked product did not beat the fourth at a question the fourth was never asked. Then check eligibility before anything else: not one of the seven is retail-open in a named jurisdiction, and the highest-ranked is institutional-only.
Decide first whether you actually want term debt, because most of this market is not selling it. Two of the seven ranked here sell an instrument with a maturity date and a coupon you can look up; four sell exposure to bond prices with no maturity a buyer can look up; one is a licensed venue that has not yet admitted a bond. That is why the table is split into labelled segments rather than presented as a single list — the top-ranked product did not beat the fourth at a question the fourth was never asked. Then check eligibility before anything else: not one of the seven is retail-open in a named jurisdiction, and the highest-ranked is institutional-only.
Expert review and scoring weights
How this category is reviewed
Reviewed on what the token legally conveys in a default (30%), who may legally buy it and where (25%), the published exit route and any dated evidence a holder used it (25%), and the all-in cost against the untokenised route (20%). Only two of the seven sell an instrument with a maturity and a coupon a buyer can look up, so the table is segmented by instrument shape. Five of the seven hold no financial licence at all. Re-open bar: the first ranked provider to publish a dated, holder-level maturity repayment fires the term-debt tie-break and requires a re-rank pass within the 45-day review cadence.