Blossom Finance to issue blockchain bonds

Blossom Finance to issue blockchain bonds

A microfinancing platform that operates for social causes, Blossom Finance has disclosed the plan to launch blockchain-based Shariah-compliant bonds called sukuks. The company would embrace Ethereum-based smart contracts for the issuance of the bonds for social causes. The chief strategy officer expressed, “Sukuk would use a profit-sharing structure and carry a profit rate of around 10 percent.”

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