Cadence Joins the Bloomberg Terminal
The alternative credit platform’s debt instruments list on the Ethereum blockchain
Cadence now offers access to exclusive high yield, short term investments traditionally reserved for institutions. Retail investors can earn up to 2% on their investments in fewer than two months. In addition, investors need just $500 to start trading on the platform.
Cadence uses blockchain technology to automate share fractionalization and distribution, thus simplifying the origination process at very low costs. The blockchain technology enables a public permission-less ledger that offers a transparent trading platform.
Cadence has listed on the Bloomberg Terminal – a first for a financial instrument based on a digital asset.
Cadence issued Bloomberg FIGI
Bloomberg’s FIGI, or Financial Instrument Global Identifier, will help professional traders reach and trade these assets.
Information such as interest rate, maturity schedule and instrument type will be apparent from Cadence’s FIGI record.
Finally, the company has already issued eight instruments of varying maturity dates on the Bloomberg Terminal. The platform will be a forerunner to future digital listings, according to
“It is proof that FIGI can easily extend to new, even esoteric financial instruments, without the need for an expensive build-out of additional infrastructure or cost to the industry,” said Richard Robinson, Head of Data Standards and Strategy at Bloomberg.
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