RBI & RCM
Raiffeisen Bank International and Raiffeisen Capital Management introducdes a blockchain platform for tokenization of national currency and assets based on mutual funds
CHALLENGE
Raiffeisen Bank, one of the leading corporate and investment banks in Austria, aimed to tokenization of national currency and assets in a fast and secure way. Project goal was to create new type of investment product and create a new revenue stream for the RBI and RCM, open new sales channels such as crypto exchange services and increase interest with new end customers groups while bringing blockchain capabilities into the regulated world.
Additionally the objective was to deploy a cross-country solution in CEE countries where RBI operates.
To showcase capabilities of Billon Unified Enterprise the pilot project was executed for RBI Tokenization Platform.
SOLUTIONS
HOW IT WORKS
Any non-cash asset can be tokenized for exchange: bonds, shares, mutual funds, ownership rights, and other non-fungible tokens (NFTs). The platform provides all necessary elements: minting nodes, corporate and personal wallets, and exchange portals.
RBI FUND TOKEN CREATION
Raiffeisen Capital Management fund manager generates the tokens using provided Minting Node functionality in the web front end. Tokens are minted and sent to the distribution wallet from where they are distributed to the Customers.
RBI FUND TOKEN PURCHASE
1. Customer funds the account with money transfer next RBI creates the equivalent amount of RBI coins and transfers it to customer’s wallet2. Customer places the Fund Token purchase order - it’s realized according to customer’s choice - either online or next working day with new token NAV
3. Purchased tokens are transferred to customer’s wallet
Customers are able to keep their assets either in web wallets (under RBI custody) or export them to their personal wallets (mobile applications).
RBI FUND TOKEN TRADING
A user has 3 options to sale RBI Fund Token:
1. To sale it back to the RBI (distributor) with offered price (RBI FUND Token Redemption)2. To place a sale order on a trading platform, where the RFTs can be sold on a secondary market
3. To make a p2p swap to RBI Coin with other users using personal wallet functionality
Why our solutions is the best fit?
Find out more about our solution
Stefan Andjelic, Blockchain Hub Lead, and Łukasz Januszewski, Board Member, Markets/IB, at Raiffeisen Bank International, discussing RBI Coin and the cooperation with Billon:
