A Japanese fintech developer will create a blockchain-based bond market gateway for Palau, aiming to launch a trial in 2024 and a full roll-out the following year.

Japanese fintech developer Soramitsu, best known for developing a central bank digital currency (CBDC) for Cambodia, is set to build a blockchain-based bond market gateway for the Pacific island nation of Palau, Nikkei has learned.

Soramitsu has secured the contract and plans to introduce the marketplace on a trial basis in fiscal 2024, with a full rollout expected the following year, enabling the Palauan government to issue bonds to individual investors and manage principal and interest payments efficiently, as per the report.

The total project cost is estimated at several hundred million yen (between $1.2 million to $5.6 …